Bitcoin Holds at $64K as Record Equities and Hormuz Breakthrough Lift Risk Sentiment

Bitcoin hovered near $64,000 as MSCI’s global equity index climbed to another record high and Brent crude declined on expectations of a Hormuz agreement. Among major cryptocurrencies, ether was the only one posting a weekly loss.

Crypto markets were largely subdued on Wednesday, even as global stocks surged to fresh highs on renewed optimism around AI-driven growth—leaving digital assets lagging behind a rally they typically track.

BTC traded slightly above $64,000, gaining less than 1% on the day and remaining broadly unchanged over the past week. Ether slipped to $1,864, marking a 2% weekly decline and standing out as the only major in negative territory. XRP dropped करीब 1% to $1.07, dogecoin fell by a similar margin to just below $0.07, and tron edged down less than 1% to around $0.33. Solana was steady near $73.60, while BNB rose more than 1% to $598, making it the top performer among majors over the past week with a 5% gain. Hyperliquid’s HYPE token led overall, climbing 3% to nearly $56 and posting a similar weekly increase.

In contrast, equity markets rallied strongly. MSCI’s All Country World Index rose 0.4% toward another record close, its Asia-Pacific counterpart jumped 2.2%, and Australian stocks reached new highs after both the S&P 500 and Dow Jones closed at record levels on Tuesday.

Individual stocks also reflected mixed performance. SK Hynix surged 6.4% at the Seoul open, while Nvidia gained over 2% in after-hours trading. Meanwhile, AMD dropped 9% following weak sales guidance, and SpaceX declined 7.5% amid rising expectations for AI-related spending.

Oil prices moved lower, with Brent crude falling 1.1% to about $78.50 per barrel after reports that the U.S., Iran, and Oman were close to finalizing a deal to reopen the Strait of Hormuz, potentially to be announced Wednesday. At the same time, Treasuries and gold advanced as markets reduced expectations for further interest rate hikes.

Despite favorable macro conditions—such as declining oil prices, easing rate outlooks, and strong equity momentum—crypto assets have failed to respond for three consecutive sessions. This suggests the weakness may be driven more by internal factors than broader market conditions.

Bitcoin remains about 49% below its October peak of $126,000, while ether continues to trend lower on the week. Market attention now turns to the potential Hormuz announcement. If confirmed, it could serve as the clearest macro catalyst for crypto in the near term. However, if prices fail to react even after a finalized deal, it may indicate that investor capital is currently flowing elsewhere.