Trump rejects Hormuz reopening; oil jumps past $100, Bitcoin dips as crypto stocks fall
Trump rejected Iran’s offer to reopen the Strait of Hormuz on terms tied to broader nuclear talks. The decision raised Middle East energy risk, pushing WTI above $100 and tightening overall risk sentiment.
Bitcoin (BTC) traded around $78.7K, dipping from a brief move toward ~$75.9K as traders stayed cautious. The article describes Bitcoin’s move as modestly positive over 24 hours, but with a still-bearyish technical backdrop (Supertrend marked bearish) and an overall “sideways with caution” tone.
Crypto-linked equities dropped sharply. Robinhood fell ~14% after earnings were read as weakening crypto trading revenue; Coinbase and Bullish fell ~8%. The sell-off extended to Gemini, Riot Platforms, MARA, and MicroStrategy, reinforcing the “weaker demand” narrative.
Next catalysts highlighted for liquidity and risk: the Fed rate decision and Chair Powell’s guidance, plus major tech earnings (Alphabet, Amazon, Meta, Microsoft) that could affect sentiment through AI spending.
BTC levels to watch: support near the high-$78K area and resistance around ~$79.4K, with a wider resistance zone up to ~$80.95K.
Bearish
Oil jumping above $100 after the Trump–Iran/Hormuz decision is a direct headwind for broader risk appetite. For Bitcoin specifically, the later article frames price action as only modestly positive over 24 hours but still cautious, with Supertrend marked bearish and an overall sideways-with-risk tone. Meanwhile, crypto-stock sell-offs (HOOD/COIN and others) signal weaker demand expectations and can spill over into sentiment and liquidity. Near term, traders may keep defensive positioning in BTC ahead of the Fed/Powell and major tech earnings, which reinforces the bias toward downside or range trading rather than a clean breakout.