Trump Rejection Boosts Oil, BTC Dips Slightly
Trump's Hormuz rejection sparked an oil rally, Robinhood fell 14%, BTC rose to 78.865$. Technical analysis: RSI 62, support 71.926$, resistance 79.420$. Detaile
Trump's Rejection of the Hormuz Strait Offer and Crypto Pressure
US President Trump's rejection of Iran's offer to reopen the Strait of Hormuz pushed oil prices up 6% while pulling down crypto stock prices. Robinhood (HOOD) lost 14% value with its earnings report that eroded crypto trading revenues by 47% in the first quarter. Investors interpreted this weakness as a harbinger of declining demand in the crypto market. Exchanges like Coinbase (COIN) and Bullish (BLSH) also fell 8%.
Crypto-focused stocks were caught in the general sell-off wave on Wednesday; Gemini (GEMI), Riot Platforms (RIOT), MARA, and Strategy (MSTR) deepened their losses. Trump rejected Iran's proposal to lift the naval blockade, conditioning it on the expansion of nuclear negotiations. According to Axios, Tehran offered a temporary opening, while Washington expects a full agreement. This increased Middle East energy uncertainty; WTI exceeded 100 dollars per barrel. Nasdaq limited its decline to 0.35%.
BTC Price Current Status and Recovery
Bitcoin (BTC) briefly fell to 75.945 dollars in BTC detailed analysis, but recovered to 78.864,94 dollars with a 0.90% rise in the last 24 hours. The oil rally curbed risk appetite while pressuring the crypto sector. The Fed interest rate decision and Powell signals will be closely watched. Evening earnings from Alphabet, Amazon, Meta, and Microsoft will shed light on AI spending.
BTC Technical Analysis and Levels
RSI at 62,47 is neutral; trend sideways, Supertrend bearish. EMA 20: 76.078,66. Supports:
- S1: 71.926 (Strong, -8,69%)
- S2: 78.187 (Strong, -0,75%)
- R1: 79.420 (Very Strong, +0,82%)
- R2: 84.543 (Medium, +7,32%)
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