Key Highlights
- Bitcoin declined 2.1% to reach $75,633 while Brent crude oil soared 7.1% to $126.41 per barrel, marking its peak level since four years ago
- News of Trump receiving briefings on potential military operations against Iran triggered the crude oil rally and risk-averse market behavior
- Ether, XRP, Solana, and BNB experienced losses; Dogecoin stood out among the top-10 digital assets with a 3.8% increase
- Nasdaq 100 futures wiped out a 1.1% advance even with positive results from Alphabet and Amazon; Meta declined 6%
- Market analysts indicate Bitcoin requires Brent crude to fall under $100 and Middle East conflict de-escalation to surpass $80,000
Digital currencies experienced significant declines Thursday following crude oil prices reaching their highest point in four years, spurred by emerging reports of possible U.S. military engagement with Iran.
Brent crude oil rallied 7.1% to reach $126.41 per barrel following an Axios report indicating President Donald Trump will receive briefings on fresh military strategies concerning Iran. Reports also suggest U.S. Central Command has made formal requests for hypersonic missile deployment to the Middle East region.
The Strait of Hormuz has remained essentially blocked since hostilities commenced in late February. This blockade has severely restricted the movement of crude oil, natural gas, and oil products through this critical global shipping corridor.
Brent crude has surged more than 100% year-to-date and continues its nine-day consecutive climb, representing its longest winning streak since May 2022.
Bitcoin decreased 2.1% to $75,633 throughout Asian market sessions. The digital currency has fallen 3% over the week and currently trades $50,000 beneath its record peak of $126,000 reached in October 2025.
During April, Bitcoin has maintained a trading range between $74,000 and $78,000, while oil prices escalated from $98 to $126 per barrel.
Alternative Cryptocurrencies Experience Widespread Declines
Ether decreased 3.4% to $2,244 and has fallen 4.4% over the week. XRP slipped 2.1% to $1.37. Solana declined 2.6% to $82.62, while BNB decreased 1.9% to $615.
Dogecoin emerged as the sole top-10 token excluding stablecoins to record gains, climbing 3.8% during the trading session and 10.1% weekly to reach $0.10.
Fernando Lillo, director at exchange Zoomex, indicated that Bitcoin’s ability to surpass $80,000 hinges on the war premium subsiding. He noted that Brent crude needs to decline below $100 per barrel, emphasizing the direct correlation between the two assets.
Lillo further described a potential scenario where the Trump administration might remove the Iran blockade, positioning it as a reaction to constructive developments from Iran, which he suggested could propel Bitcoin toward $85,000.
Technology Company Results Generate Divergent Market Reactions
U.S. equity futures displayed mixed performance Thursday. S&P 500 futures advanced 0.2%, whereas Nasdaq 100 futures retreated 0.2% and Dow futures declined 0.6%.
Meta dropped approximately 6% following its announcement of lower-than-anticipated capital expenditure and modest user expansion. Microsoft remained relatively unchanged despite exceeding projections on both revenue and earnings.
Alphabet climbed 6% driven by robust revenue performance and Google Cloud expansion. Amazon advanced 4% supported by solid cloud computing figures.
Apple’s earnings report is scheduled for release following Thursday’s market closure.
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’s conclusion, referencing ongoing legal challenges confronting the central bank.
