Bitcoin flat at $64,000 as stocks print records and Hormuz deal nears
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- Bitcoin traded just above $64,000, up under 1% on the day and roughly flat over seven days, and remains about 49% below its October peak of $126,000
- Ether slipped to $1,864 and is down 2% on the week, making it the only major token in the red over that span, while BNB added over 1% to $598 and leads the majors over seven days at 5%
- MSCI's All Country World Index rose 0.4% toward another record close, with the S&P 500 and Dow both closing at all-time highs Tuesday on renewed enthusiasm for AI-related shares
- Brent crude fell 1.1% to about $78.50 a barrel after Axios reported Washington, Tehran and Oman were close to an agreement to reopen the Strait of Hormuz, with an announcement targeted for Wednesday
- SK Hynix rose 6.4% after the Seoul open and Nvidia added over 2% after hours, while AMD dropped 9% on a soft sales outlook and SpaceX fell 7.5% on higher projected AI spending
- Crypto markets have failed to rally for three straight sessions despite cheaper oil, easing rate expectations, and a risk-on equity bid — a pattern the source says points to internal market dynamics, not macro headwinds
Why it matters: Crypto's inability to rally across three straight sessions of bullish macro signals — falling oil, easing rate expectations, record equities — points to internal market weakness, not a temporary hesitation. If a confirmed Hormuz reopening also fails to move bitcoin, the source argues, the buyers have simply moved elsewhere, confirming crypto has decoupled from this risk-on trade.
