The Dow Jones and S&P 500 both closed at record highs on Tuesday, driven by optimism over progress toward fully reopening the Strait of Hormuz.

Crude fell roughly 5% amid diplomatic signals, easing inflationary pressure that had capped equities for months.

The Diplomatic Signals Behind Wall Street’s Record Session

The Strait of Hormuz is a narrow waterway handling a substantial portion of global seaborne oil and liquefied natural gas shipments. Its status has shaped market sentiment since February.

The numbers reflected a broad risk appetite. The Dow Jones rose 1.71%, or 907 points, to 54,085.88, while the S&P 500 advanced 1.79% to 7,736.52.

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That marked the S&P’s first closing record since early July. The technology-heavy Nasdaq Composite outperformed both, gaining 2.59% to finish at 26,584.99.

Both major indexes traded even higher during the session. The intraday moves underscored how quickly sentiment shifted in response to Middle East headlines. Secretary of State Marco Rubio provided the initial catalyst. He confirmed the strait remains open, with ships and oil continuing to transit the waterway.

Negotiations appear to be advancing. Rubio described talks involving Iran, Oman, and US participation aimed at ensuring safer and increased vessel traffic in the short term.

Treasury Secretary Scott Bessent added further momentum. He told CNBC that a deal to fully reopen commercial transit could be reached today or tomorrow.

Diplomatic context explains the urgency. President Donald Trump recently suspended what he described as a major potential strike on Iran to allow negotiations to proceed.

Why Analysts Still Urge Caution

Energy markets responded immediately. Crude prices fell roughly 5%, pulling Treasury yields lower and supporting equities across sectors. Semiconductor and artificial intelligence stocks led the advance. The Philadelphia Semiconductor Index surged more than 6% during the session.

Corporate results reinforced the move. Upbeat earnings from Caterpillar and Palantir helped alleviate lingering concerns about demand. The stakes explain why traders reacted so forcefully. Prolonged disruption earlier this year fueled volatility, raised energy costs, and pressured growth forecasts.

A durable agreement would remove a significant geopolitical risk premium. That prospect alone justified Tuesday’s repricing across multiple asset classes.

Caution remains warranted, however. Rubio acknowledged that no final deal exists yet, despite the progress he described. Tehran has issued mixed signals about the formal status of talks. Previous memorandums of understanding have collapsed under similar circumstances.

Any breakdown could reverse the moves quickly. Oil would likely spike again, pressuring equities and reviving the inflation concerns that briefly faded. The week ahead brings additional tests. Investors will digest further earnings reports and economic data alongside developments in the Gulf.

Attention stays fixed on one question. Whether diplomatic optimism translates into concrete shipping gains will determine if these records hold.

For now, the waterway’s status has unlocked Wall Street’s latest advance. The durability of that rally depends on negotiations still unfolding.

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The post Wall Street Closes at Records as the Strait of Hormuz Holds the Key: What’s Next? appeared first on BeInCrypto.

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Cloudflare introduced programmable Wallets for AI agents and said payment features using stablecoins will launch in a future update.

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Bitcoin traded near $64,270 on Aug. 5, gaining less than 1% as record equity markets and falling oil prices failed to produce a broad crypto rally. 

Summary

• Bitcoin price held above $64,000 while record global equities and cheaper oil failed to spark momentum.
• Brent fell near $78.50 as traders awaited a possible U.S., Iran, and Oman shipping agreement.
• Bitcoin must close above $64,300 on four hour charts to confirm analyst Ali Martinez’s breakout.
• Bollinger Bands place immediate resistance near $66,285 and range support around $62,524 for Bitcoin traders.
• U.S. spot Bitcoin ETFs drew $19.6 million Tuesday, but recent outflows still weighed on demand.

The largest cryptocurrency remained roughly flat over seven days and about 49% below its October 2025 record above $126,000.

Ether and XRP weakened, while BNB and Hyperliquid’s HYPE outperformed among major tokens. The restrained response contrasted with global stocks, where the S&P 500 and Dow closed at records and Asian technology shares rose sharply on strong AI related earnings.

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Bitcoin price sits out the latest risk rally

Reuters reported that Japan’s Nikkei gained 3.5%, South Korea’s benchmark rose 4.3%, and an MSCI Asia Pacific gauge excluding Japan advanced 2.3%. Brent crude fell toward $78.85, while the U.S. 10 year Treasury yield eased to about 4.603% as traders reduced expectations for another near term Federal Reserve rate increase.

Those conditions would normally offer support to BTC. Cheaper oil can reduce inflation pressure, while lower bond yields can make non interest bearing assets more attractive. Yet BTC has shown only a limited response across several sessions, suggesting crypto specific demand remains too weak to confirm a wider risk rally.

U.S. spot Bitcoin exchange traded funds recorded $19.6 million of net inflows on Aug. 4, according to Farside Investors. The positive session offered some support, but it followed a period of heavier withdrawals, including about $265 million reported on Aug. 1.

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Corporate supply has also returned to the market. Strategy’s official Bitcoin ledger shows the company sold 1,638 BTC for about $105 million, leaving it with 842,138 BTC. The sale was small relative to its holdings, but it removed a source of price insensitive accumulation that had supported earlier rallies.

A Hormuz agreement remains possible, not confirmed

Axios reported that the U.S., Iran, and Oman were approaching a temporary arrangement to reopen the Strait of Hormuz, with an announcement targeted for Wednesday. The proposal would create a 60 day shipping arrangement that could be extended. President Donald Trump later said a deal could arrive Wednesday or Thursday.

No signed agreement had been announced at the time of reporting. Trump described the discussions as “very good,” while Iran and the U.S. still differed on key details. The market therefore remains exposed to another breakdown after an earlier arrangement collapsed and attacks on shipping resumed.

Oil has already priced in part of the expected easing in tensions. The largest crypto has recovered by more than $2,000 from its recent low near $62,200, but the move remains modest compared with the response in equities and crude. A confirmed agreement may reduce a major inflation and geopolitical risk, although it would not guarantee fresh crypto demand.

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The crypto rose toward $66,800 after an earlier Hormuz reopening announcement in June.Renewed conflict could expose support below $64,000. The contrast makes the next confirmed diplomatic update a useful test of whether Bitcoin still reacts strongly to the oil and rates channel.

Bitcoin needs $64,300 to confirm a breakout

The supplied four hour setup places $64,300 at the upper boundary of a descending channel. Analyst Ali Martinez said a close above that level “could confirm the breakout” and open a possible move toward $65,500 or $66,500. Those levels are conditional targets, not confirmed outcomes.

If you’re bullish on Bitcoin, watch this.$BTC is testing the upper boundary of a descending channel, making $64,300 the key level to watch.

A 4-hour close above $64,300 could confirm the breakout and open the door to a rally toward $65,500 or even $66,500. pic.twitter.com/MMTLHc4AQm

— Ali Charts (@alicharts) August 4, 2026

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The daily chart gives a more cautious reading. The crypto trades near the Bollinger Bands middle line around $64,404. The upper band sits near $66,285, while the lower band is around $62,524. This structure shows consolidation rather than a completed directional move.

The Aroon Oscillator stands at negative 71.43, showing recent lows remain more dominant than recent highs. Holding $62,500 to $63,000 would preserve the range, while a daily move above $66,000 to $66,300 would provide stronger evidence that buyers have regained control.

Meanwhile, the next market test is whether a confirmed Hormuz agreement can push the crypto above $64,300 and then through the upper Bollinger Band. Failure to rally after a verified deal would strengthen the view that capital is favoring AI shares, bonds, and gold rather than crypto.

Traders will also watch ETF flows, the $62,500 lower range, and whether Strategy reports further sales. Until volume expands and BTC closes above resistance, the rebound from $62,200 remains a recovery inside a broader downtrend rather than a confirmed trend reversal.

FAQs

Why is Bitcoin lagging behind global stocks?

Bitcoin lacks strong crypto-specific demand despite favorable macro conditions. Record stock prices, falling oil and lower bond yields have not produced enough buying pressure to confirm a breakout. Recent ETF inflows have also remained modest compared with earlier withdrawals.

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What is the key Bitcoin price level to watch?

The immediate level is $64,300, which marks the upper boundary of the descending channel on the four-hour chart. A confirmed close above it could support a move toward $65,500 and $66,500, although those targets remain conditional.

Could a Strait of Hormuz agreement lift Bitcoin?

A confirmed agreement could reduce geopolitical and inflation risks by improving shipping conditions and lowering oil prices. However, it would not guarantee a Bitcoin rally. A weak response could indicate that investors currently prefer equities and other assets.

What are Bitcoin’s main support and resistance levels?

Immediate support sits between $62,500 and $63,000. A break below that range could expose the recent $62,200 low. Resistance appears at $64,300, followed by the upper Bollinger Band near $66,285.

What would confirm a stronger Bitcoin recovery?

Bitcoin would need stronger trading volume, sustained ETF inflows and closes above $64,300 and $66,300. Until then, the move from $62,200 remains a rebound within a broader downtrend rather than a confirmed reversal.

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Cardano’s ecosystem recorded several important developments between July 30 and August 5th. These range from a new cross-chain connection to changes in the way governance representation works.

Meanwhile, ADA briefly approached $0.20 after gaining over 20% over the past week. Here are some of the most important Cardano news and an update on ADA’s price action from the past few days.

Cardano Connects With Injective Through IBC

Cardano and Injective established their very first connection through the Inter-Blockchain Communication protocol on the testnet.

In an official announcement, Injective said the integration is designed to eventually allow ADA to enter its ecosystem while INJ itself becomes fully available on Cardano.

The testnet deployment creates a direct cross-chain rail and is intended to represent another step toward improving the compatibility of Cardano with other networks outside its existing ecosystem.

JUST IN : Cardano is now officially connected to Injective, the first blockchain to have a live onchain rail to Cardano via testnet.$ADA is coming to Injective. $INJ is coming to @Cardano. Both will be available across the two ecosystems. pic.twitter.com/ECnexrfx8c

— Injective (@injective) August 3, 2026

Development Shifts Toward the Dijkstra Era

Following the completion of the van Rossem upgrade,  Cardano developers turned their attention to the upcoming Dijkstra development era. According to the latest update, planned work includes Nested Transactions and Linear Leios, with both targeted for mainnet implementation by the end of this year.

Recall that van Rossem previously introduced improvements, including Plutus performance, ledger consistency, and improved node security.

New Governance Tools Move On-Chain

In another important piece of news, Cardanoo has moved the election of its Constitutional Committee onto the blockchain, making the voting process easier to verify and more transparent. The committee is responsible for checking whether major governance decisions follow the Cardano constitution.

Meanwhile, the ecosystem has also opened a new portal where community members can test how future changes to that constitution may be proposed. Additionally, ADA holders, as well as their representatives, can now vote on a separate proposal to adjust some of the network’s technical settings.

Together, these updates give the community a more direct role in the way Cardano is managed and developed.

EMURGO Steps Down from Intersect’s Board

EMURGO announced its immediate resignation from the Intersect board. The organization plans to deregister its delegated representatives.

The decision followed serious community criticism surrounding governance participation and the delegation experience within Yoroi Wallet.

EMURGO acknowledged that both positions carried significant responsibilities and said the changes are intended to address these specific concerns.

The departure has once again renewed discussions about accountability among Cardano’s major ecosystem organizations.

ADA Price Update: One-Month High and Renewed Bullish Expectations

ADA climbed from around $0.15 in late July to a one-month high of approximately $0.195 on August 4th. The move, at the time, represented a weekly gain of roughly 26%, although the cryptocurrency has since pulled back as traders look to book some profits.

The rally started during the weekend, when ADA jumped by 9% and outperformed a lot of the large-cap altcoins.

One possible reason for the move was the increased buying from large investors. Whales accumulated more than 240 million ADA within five days, helping it soar by roughly 22% during that same period.

ADA is now testing a very important resistance area between $0.19 and $0.20. Some analysts believe that a successful break above it could open the way toward $0.28-40.30.

However, it’s also important for the cryptocurrency to remain above $0.17 to protect its improving short-term structure – from a strict technical perspective.

The post Important Cardano News and ADA Price Update: August 5th appeared first on CryptoPotato.

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Arthur Hayes says Bitcoin’s climb to $1 million depends on the AI industry’s credit problems, not its earnings. In a new essay titled “Situationship,” the BitMEX co-founder makes his case.

He argues that AI data center spending resembles 2008-style debt speculation rather than 2000-style dot-com overvaluation. He expects central banks to print enough money to eventually rescue over-leveraged AI lenders. That flood of liquidity, he says, is what carries Bitcoin toward seven figures.

Why Hayes Separates AI From the Dot-Com Bubble

Hayes argues investors mistake data centers for pure technology. In his view, they are really real estate developments packed with fast-depreciating chips.

He made a related case in May. Back then, he called AI spending history’s largest fiat credit bubble and set an initial Bitcoin price target near $126,000.

“AI CAPEX is just another boring real estate play”
— Arthur Hayes,

In his view, hyperscalers increasingly fund data centers with borrowed money, not free cash flow. That shifts default risk onto banks and bondholders.

He compares this to the 2006-2008 mortgage cycle. Lending kept flowing even after home price growth stalled. It only broke once construction spending actually contracted.

The Bailout Mechanism Behind the $1 Million Call

Hayes expects AI capital spending growth to decelerate in 2027. That slowdown, he says, will expose the weakest data center loans. He argues the Fed and Treasury will respond the way they did in 2008 and 2020. That means emergency lending facilities, and possibly direct equity purchases, to prevent a systemic default.

His forecast follows a familiar pattern from the Fed. Chair Kevin Warsh held interest rates steady at his second meeting in late July. Three FOMC members dissented, favoring a hike. Markets now price high odds of a rate hike later this year.

Hayes reads that hold as evidence authorities will keep credit flowing. He sees continued bank lending to AI projects as further confirmation officials won’t let weak borrowers fail.

This isn’t Hayes’s first seven-figure Bitcoin call. He made a similar $1 million prediction last year based on an expected Fed shift toward yield curve control.

This time, he ties the call to AI credit stress instead. He also reiterated a $5,000 Ethereum target for the end of 2026. Hayes points to Ethereum’s emerging role as a settlement layer for tokenized real-world assets.

Bitcoin traded near $64,300 at the time of writing, up roughly 1% over 24 hours, per BeInCrypto data.

Hayes has also called for a Bitcoin bottom near $40,000 before any run toward his higher targets. That framework leaves room for further downside first. Whether the AI credit cycle actually unwinds on his 2027 timeline remains the open question. Investors will likely watch hyperscaler earnings and bank loan books for early signs over the coming quarters.

The post Arthur Hayes Says Bitcoin’s Going to $1 Million After an AI Credit Bust appeared first on BeInCrypto.

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SanDisk stock jumped 10.84% on Tuesday following a new AI memory milestone with SK Hynix. The companies advanced their ongoing collaboration by releasing the first industry specification for High Bandwidth Flash (HBF) technology.

SanDisk also presents a keynote on AI memory today at the Future of Memory and Storage (FMS) Conference, just hours before its earnings call. Google and Tenstorrent joined the HBF consortium during the standardization process, adding credibility to the new standard.

A New Memory Tier for AI Chips

The Open Compute Project (OCP), an industry group that builds open hardware standards, published the HBF specification this week. The standard gives chip designers a shared framework for using HBF in AI accelerators.

It fills a gap left by High Bandwidth Memory (HBM), which is fast but capacity-constrained. In contrast, solid-state drives hold more data at slower speeds.

The specification supports NAND stacking up to 512GB per die stack. It also defines three performance tiers, with read speeds reaching 3.0 terabytes per second.

SanDisk and SK Hynix started the HBF consortium in February. Google and Tenstorrent joined as members during the specification’s development. SanDisk Chief Technology Officer Alper Ilkbahar called the release a major step for the technology.

“an important milestone for the HBF ecosystem”

Alper Ilkbahar, SanDisk’s chief technology officer, said in a statement.

Earnings Loom as Memory Stocks Rebound

SanDisk reports fiscal fourth-quarter results after markets close today. Wall Street expects earnings near $33 per share on revenue around $8.3 billion, up sharply from $0.29 a year earlier. However, SanDisk shares pulled back in premarket trading Wednesday, as some investors turned cautious ahead of tonight’s results.

SanDisk shares fell roughly 47% last month during a broader memory sector selloff. Meanwhile, SK Hynix shares have swung just as sharply since their Nasdaq debut in July.

The rebound reflects a tighter link between Korean and US markets, as AI infrastructure spending increasingly moves both in tandem.

Today’s earnings will show whether the AI memory story behind Tuesday’s rally holds up under closer scrutiny.

The post SanDisk Stock Jumps 10% on New AI Memory Milestone With SK Hynix Ahead of Earnings appeared first on BeInCrypto.

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