Bitcoin (BTC) Drops to $75K as Crude Oil Soars and Tech Giants Deliver Mixed Results

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. BREAKING: President Trump has "rejected" Iran's proposal to open the Strait of Hormuz and the US has prepared a plan for a "short and powerful" wave of strikes on Iran, per Axios. Details include: 1. Trump says he will keep Iran under a naval blockade until they agree to a… — The Kobeissi Letter (@KobeissiLetter) April 29, 2026 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 sessio...