Key Highlights
- Bitcoin decreased 2.1% to reach $75,633 while Brent crude oil surged 7.1% to $126.41 per barrel, marking a four-year peak
- Military briefings regarding potential U.S. operations against Iran sparked the energy price rally and triggered risk-averse trading
- Leading altcoins including Ether, XRP, Solana, and BNB recorded losses; Dogecoin bucked the trend with a 3.8% increase
- Nasdaq 100 futures reversed a 1.1% gain despite positive results from Alphabet and Amazon; Meta shares declined 6%
- Market experts suggest Bitcoin requires crude prices below $100 and reduced Middle East conflict before testing $80,000
Digital currencies experienced widespread declines on Thursday as petroleum prices climbed to levels not seen in four years, fueled by emerging reports of possible U.S. military engagement with Iran.
Brent crude oil experienced a sharp 7.1% increase to $126.41 per barrel following an Axios report indicating President Donald Trump would receive briefings on updated military strategies concerning Iran. Additionally, reports suggest U.S. Central Command has requested the deployment of hypersonic missile systems to the Middle East region.
The strategically vital Strait of Hormuz has remained essentially blocked since hostilities commenced in late February. This closure has severely restricted the transportation of crude oil, natural gas, and oil products through this critical global shipping corridor.
Brent crude has now appreciated 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 cryptocurrency is down 3% for the week and remains approximately $50,000 below its record high of $126,000 established in October 2025.
During April, Bitcoin has consolidated within a $74,000 to $78,000 range, despite oil prices ascending from $98 to $126 per barrel.
Alternative Cryptocurrencies Face Broad Selling Pressure
Ether decreased 3.4% to $2,244, recording a 4.4% weekly decline. XRP retreated 2.1% to $1.37. Solana dropped 2.6% to $82.62, while BNB declined 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 reduction of war-related market premiums. He emphasized that Brent crude falling beneath $100 per barrel would be necessary, noting the direct correlation between the two assets.
Lillo further described a potential scenario in which the Trump administration might ease the Iran blockade, positioning it as recognition of constructive Iranian actions, which he suggested could propel Bitcoin toward $85,000.
Technology Sector Results Generate Divergent Market Reactions
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 dropped 0.6%.
Meta shares tumbled nearly 6% following the disclosure of lower-than-anticipated capital expenditure projections and modest user growth figures. Microsoft shares remained relatively unchanged despite surpassing revenue and earnings expectations.
Alphabet climbed 6% on robust revenue performance and strong Google Cloud expansion. Amazon advanced 4% supported by impressive cloud computing metrics.
Apple is scheduled to announce earnings results following Thursday’s market closure.
The Federal Reserve maintained interest rates unchanged within the 3.5% to 3.75% target range. Fed Chair Jerome Powell indicated his intention to continue beyond his current term, referencing ongoing legal challenges confronting the central bank.
