Bitcoin refused to budge. It sat just above $64,000 on Wednesday, unmoved by a rally that sent stock markets to fresh records. The MSCI All Country World Index climbed 0.4% toward another peak. Nvidia jumped over 2% after hours. SK Hynix surged 6.4% at the Seoul open. Yet crypto stayed flat, with ether the only major token in the red on the week, down 2% to $1,864.
The disconnect is puzzling. Cheaper oil, easing rate expectations, a broad risk-on mood in equities, none of it moved digital assets. Analysts point to internal market dynamics rather than macroeconomic headwinds. BTC is still roughly 49% below its October peak, and traders are watching for signals that might finally break the stalemate.
Most altcoins followed bitcoin's lead. XRP fell nearly 1% to $1.07. Dogecoin slipped the same to just under 7 cents. Tron edged down under 1% to 33 cents. Solana held flat near $73.60. BNB was the exception, adding over 1% to $598 and leading the majors over the past week with a 5% gain. Hyperliquid's HYPE token stood out even more, jumping 3% to nearly $56.
Meanwhile, oil markets moved on geopolitical news. Brent crude fell 1.1% to about $78.50 a barrel after Axios reported that Washington, Tehran and Oman were close to an agreement to reopen the Strait of Hormuz, with an announcement targeted for Wednesday. The prospect of eased Middle East tensions rippled through commodities. Treasuries and gold both advanced as traders trimmed bets on further rate hikes, but the move left crypto observers scratching their heads.
This article is for information purposes only and should not be construed as financial advice or investment recommendation.
