Key Highlights
- Bitcoin declined 2.1% to reach $75,633 while Brent crude oil soared 7.1% to $126.41 per barrel, marking a four-year peak
- Potential military action against Iran being discussed with President Trump fueled the energy market rally and triggered risk-off sentiment
- Leading altcoins including Ether, XRP, Solana, and BNB posted losses; Dogecoin bucked the trend with a 3.8% advance
- Nasdaq 100 futures reversed an earlier 1.1% gain following mixed tech earnings; Meta shares tumbled 6%
- Market analysts indicate Bitcoin requires Brent crude to fall under $100 and reduced Middle East tensions to challenge the $80,000 level
Cryptocurrency markets experienced downward pressure on Thursday as energy prices reached their highest point in four years, propelled by emerging reports regarding possible U.S. military operations targeting Iran.
Brent crude oil experienced a significant 7.1% surge to $126.41 per barrel following an Axios report indicating President Donald Trump would receive briefings on fresh military strategies concerning Iran. Additionally, reports suggest U.S. Central Command has submitted requests for hypersonic missile deployments to the Middle East region.
The critical Strait of Hormuz waterway has remained essentially blocked since hostilities erupted in late February. This blockage has severely restricted the movement of crude oil, natural gas, and oil products through this vital global shipping corridor.
Brent crude has now surged more than 100% year-to-date and continues a nine-consecutive-day advance, representing its longest winning streak since May 2022.
Bitcoin experienced a 2.1% decline to $75,633 during Asian market sessions. The leading cryptocurrency has dropped 3% over the past week and remains $50,000 beneath its record high of $126,000 established in October 2025.
Throughout the month of April, Bitcoin has oscillated within a $74,000 to $78,000 range, despite crude oil climbing from $98 to $126 per barrel.
Widespread Declines Hit Alternative Cryptocurrencies
Ether registered a 3.4% decrease to $2,244 and has fallen 4.4% over the weekly period. XRP declined 2.1% to $1.37. Solana decreased 2.6% to $82.62, while BNB dropped 1.9% to $615.
Dogecoin emerged as the sole top-10 cryptocurrency excluding stablecoins to register gains, climbing 3.8% daily and 10.1% weekly to reach $0.10.
Fernando Lillo, director at cryptocurrency exchange Zoomex, indicated that Bitcoin’s ability to surpass $80,000 hinges on the diminishing war premium. He emphasized that Brent crude would need to decline below $100 per barrel, noting the strong correlation between the two assets.
Lillo further described a potential scenario where the Trump administration could remove the Iran blockade, positioning it as a reaction to constructive moves from Iran, which he suggested could propel Bitcoin toward $85,000.
Technology Sector Earnings Create Market Divergence
U.S. equity futures displayed mixed performance on Thursday. S&P 500 futures advanced 0.2%, while Nasdaq 100 futures declined 0.2% and Dow futures retreated 0.6%.
Meta shares dropped approximately 6% following disappointing capital expenditure projections and subdued user growth metrics. Microsoft remained relatively unchanged despite exceeding expectations for both revenue and earnings.
Alphabet climbed 6% driven by robust revenue performance and Google Cloud expansion. Amazon advanced 4% supported by strong cloud computing results.
Apple is scheduled to release its quarterly earnings following Thursday’s closing bell.
The Federal Reserve maintained interest rates within the 3.5% to 3.75% range. Fed Chair Jerome Powell announced his intention to continue beyond his current term, referencing ongoing legal challenges confronting the central bank.
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