Trump's Hormuz Rejection Triggered Crypto Stock Drop

US President Trump's rejection of Iran's offer to reopen the Strait of Hormuz pushed oil prices up 6% while pulling crypto stocks down. 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%.

Trump's Rejection of the Strait of Hormuz Started the Oil Rally

Bitcoin (BTC) rose to 77,764.83 dollars according to the latest data and gained 1.86% in 24 hours. Trump conditioned the acceptance of Iran's proposal to lift the naval blockade on the expansion of nuclear negotiations. According to Axios, the Tehran administration offered to temporarily open the strait, but Washington is waiting for a full agreement. This development increased uncertainty in Middle East energy lines, and West Texas Intermediate (WTI) exceeded 100 dollars per barrel. The Nasdaq Index was limited to only a 0.35% decline. Click for detailed BTC analysis.

General Selling Wave in Crypto Stocks

Crypto-focused stocks were caught in a general selling wave on Wednesday. Here are the sharpest losses:

• Robinhood (HOOD): -14%
• Coinbase (COIN): -8%
• Bullish (BLSH): -8%
• Gemini (GEMI): Deep loss
• Riot Platforms (RIOT): % decline
• MARA (MARA): % decline
• Strategy (MSTR): Losses deepened

The oil rally curtailed risk appetite, adding pressure to the crypto sector and causing stocks to decline more sharply than Bitcoin.

Bitcoin Technical Analysis: Support and Resistance Levels

In BTC, RSI at 58.97 is in the neutral zone, trend sideways but Supertrend giving bearish signal. EMA 20: 75,719.95. Strong supports: S1 75,716.42 (80/100 score, -2.23% distance), S2 71,926.08 (75/100). Resistances: R1 79,249.44 (81/100, +2.33%), R2 77,625.00 (65/100). Investors should watch BTC futures opportunities. Nearby support S1 is strong, be cautious against possible pullback.

Fed Interest Rate Decision and Tech Giants Expectation

The Fed's interest rate decision will be watched for policy signals ahead of Jerome Powell's last meeting. Markets will scan the earnings of giants like Alphabet (GOOG), Amazon (AMZN), Meta (META), and Microsoft (MSFT) in the evening hours; it will take the pulse of AI spending and infrastructure investments. Risk aversion may continue for crypto.