As global tensions rise with a potential U.S. naval blockade of the Strait of Hormuz looming, Bitcoin remains largely unaffected, maintaining its position just under $77,000 in Asian trading hours on Wednesday. This marks a mere 0.1% increase over 24 hours and a 0.8% decline from the previous week, demonstrating resilience amidst macroeconomic shifts.
Brent crude surged above $111 per barrel following a Wall Street Journal report indicating President Donald Trump’s orders for an extended blockade of the Strait of Hormuz. Iran has declared itself in a “State of Collapse,” as reported by Trump on Truth Social on Tuesday, while Tehran hinted at accepting an interim agreement to reopen the strait if U.S. blockades of Iranian ports are lifted.
Other cryptocurrencies saw varied movements; Ether declined 2.6% over the week to $2,310, XRP decreased by 3.8% to $1.39, and Solana fell 3.2% to $84.57. BNB also dropped 2.3% to $625. Dogecoin stood out as an exception, with a weekly gain of 5.5%, reaching $0.1016—making it the only top-10 token outside stablecoins to show positive growth over seven days.
Bitcoin’s market dominance is gradually increasing, often occurring when macroeconomic stress prompts capital flow towards larger assets. Zaheer Ebtikar, founder of Split Research, observed a shift in market structure, noting that Bitcoin’s relative stability suggests the exit of sellers concerned by macro shifts or quantum computing fears, resulting in a thinner sell-side.
“Bitcoin is less affected by regulatory noise or central bank policy than commonly believed,” Ebtikar told CoinDesk via email. “Its sensitivity hinges on broader volatility; given the current quieter trading range, there’s no urgent need to liquidate positions.”
From a technical perspective, analysts at Bitget identified $75,000 as the crucial threshold where an upward trend since late March could break, potentially opening space for further declines. However, a rally back towards $80,000 would maintain the current structure and set up another test of resistance that has consistently rebuffed Bitcoin’s attempts since February.
The Federal Reserve is scheduled to announce its rate decision later on Wednesday, with the European Central Bank following suit on Thursday. The U.S. equity market faced selling pressure on Tuesday due to skepticism about returns from artificial intelligence capital expenditures, although Nasdaq 100 futures partially recovered by 0.4% in Asian hours.
Brent crude experienced fluctuations but remained high near $111 amid blockade reports, adding inflationary pressures ahead of central bank decisions. Traders are keen to see if Bitcoin’s supply constraints withstand the next macroeconomic shock. If Ebtikar’s analysis holds, the market could continue trading on volatility rather than news until a new selling wave emerges; otherwise, if his view is incorrect, $75,000 might be tested swiftly as Bitget’s forecasted range break unfolds.