Key Highlights

• Bitcoin decreased 2.1% to reach $75,633 while Brent crude oil surged 7.1% to $126.41 per barrel, marking a four-year peak
• Military briefings regarding potential U.S. operations against Iran sparked the energy price rally and triggered risk-averse trading
• Leading altcoins including Ether, XRP, Solana, and BNB recorded losses; Dogecoin bucked the trend with a 3.8% increase
• Nasdaq 100 futures reversed a 1.1% gain despite positive results from Alphabet and Amazon; Meta shares declined 6%
• Market experts suggest Bitcoin requires crude prices below $100 and reduced Middle East conflict before testing $80,000

Digital currencies experienced widespread declines on Thursday as petroleum prices climbed to levels not seen in four years, fueled by emerging reports of possible U.S. military engagement with Iran.

Brent crude oil experienced a sharp 7.1% increase to $126.41 per barrel following an Axios report indicating President Donald Trump would receive briefings on updated military strategies concerning Iran. Additionally, reports suggest U.S. Central Command has requested the deployment of hypersonic missile systems to the Middle East region.

The strategically vital Strait of Hormuz has remained essentially blocked since hostilities commenced in late February. This closure has severely restricted the transportation of crude oil, natural gas, and oil products through this critical global shipping corridor.

Brent crude has now appreciated more than 100% year-to-date and continues a nine-consecutive-day advance, representing its longest winning streak since May 2022.

Bitcoin experienced a 2.1% decline to $75,633 during Asian market sessions. The cryptocurrency is down 3% for the week and remains approximately $50,000 below its record high of $126,000 established in October 2025.

During April, Bitcoin has consolidated within a $74,000 to $78,000 range, despite oil prices ascending from $98 to $126 per barrel.

Alternative Cryptocurrencies Face Broad Selling Pressure

Ether decreased 3.4% to $2,244, recording a 4.4% weekly decline. XRP retreated 2.1% to $1.37. Solana dropped 2.6% to $82.62, while BNB declined 1.9% to $615.

Dogecoin emerged as the sole top-10 cryptocurrency excluding stablecoins to register gains, climbing 3.8% daily and 10.1% weekly to reach $0.10.

Fernando Lillo, director at cryptocurrency exchange Zoomex, indicated that Bitcoin’s ability to surpass $80,000 hinges on the reduction of war-related market premiums. He emphasized that Brent crude falling beneath $100 per barrel would be necessary, noting the direct correlation between the two assets.

Lillo further described a potential scenario in which the Trump administration might ease the Iran blockade, positioning it as recognition of constructive Iranian actions, which he suggested could propel Bitcoin toward $85,000.

Technology Sector Results Generate Divergent Market Reactions

U.S. equity futures displayed mixed performance on Thursday. S&P 500 futures advanced 0.2%, while Nasdaq 100 futures declined 0.2% and Dow futures dropped 0.6%.

Meta shares tumbled nearly 6% following the disclosure of lower-than-anticipated capital expenditure projections and modest user growth figures. Microsoft shares remained relatively unchanged despite surpassing revenue and earnings expectations.

Alphabet climbed 6% on robust revenue performance and strong Google Cloud expansion. Amazon advanced 4% supported by impressive cloud computing metrics.

Apple is scheduled to announce earnings results following Thursday’s market closure.

The Federal Reserve maintained interest rates unchanged within the 3.5% to 3.75% target range. Fed Chair Jerome Powell indicated his intention to continue beyond his current term, referencing ongoing legal challenges confronting the central bank.

XRP has seen a sharp rise in bullish social sentiment after Rakuten Wallet launched new XRP features in Japan. 

The update allows users to convert Rakuten loyalty points into XRP and use the asset for payments. Rakuten Wallet has launched XRP spot trading and payment features for users in Japan. The update allows customers to convert Rakuten loyalty points into XRP through the mobile app.

Users can also use XRP for payments at more than 5 million merchant locations across Japan. Payments are made through QR codes linked to Rakuten’s wider retail network.

XRP gains exposure to Rakuten users

RippleX described the launch as one of the largest retail deployments of XRP to date. Rakuten Pay has about 44 million active users, giving XRP access to a large consumer base.

The Rakuten ecosystem also has more than 3 trillion loyalty points in circulation. That equals about $23 billion in points that can now be converted into XRP.

Santiment reports rising XRP sentiment

Santiment said XRP is now seeing its second-highest bullish sentiment across social media in two years. The platform linked the rise partly to the Rakuten integration.

Santiment said these events do not often cause instant price breakouts. It added that price effects may appear after early excitement and FOMO cool down.

Despite the adoption news, XRP traded at $1.37 at the time of reporting. The token fell 1.77% in 24 hours and 3.66% over the past week.

XRP has a market cap of about $84.42 billion, with 62 billion tokens in circulation. Santiment noted that XRP’s market value has declined about 55% over the past nine months.

Rakuten Wallet is also running a promotion for early users. Customers who buy 30,000 yen or more in XRP can receive 500 yen worth of XRP, while those buying 100,000 yen or more can receive 1,500 yen.

Key Takeaways

• The Federal Reserve maintained interest rates at 3.50%–3.75% for its fourth consecutive policy meeting
• Four FOMC members dissented: one advocated for a 25-basis-point reduction, while three pushed to eliminate dovish language
• Powell’s chairmanship concludes May 15; this meeting marked his probable final session
• Kevin Warsh successfully passed the Senate Banking Committee review and is positioned to succeed Powell
• Bitcoin retreated to levels just under $76,000 while the Nasdaq declined 0.35% after the announcement

The Federal Reserve opted to maintain its key interest rate in the 3.50%–3.75% range during Wednesday’s policy meeting, marking the fourth straight session without adjustment.

Policymakers emphasized their focus on balancing stubborn inflationary pressures against emerging indicators of economic deceleration. The committee’s official statement noted it will “carefully assess incoming data, the evolving outlook, and the balance of risks” prior to implementing any policy shifts.

The rate decision produced four dissenting votes. Fed Governor Stephen Mirran advocated for a 25-basis-point rate reduction.

The remaining three dissenters—Beth Hammack, Neel Kashkari, and Lorie Logan—supported maintaining current rates but opposed keeping forward guidance that hints at potential cuts. This dynamic creates challenges for incoming leadership.

This policy meeting likely represented Jerome Powell’s final appearance as chair. His tenure concludes on May 15.

Kevin Warsh, widely anticipated to assume the role, secured approval from the Senate Banking Committee on Wednesday. He appears set to transition into the chairmanship upon Powell’s departure.

The three hawkish dissenting votes indicate Warsh may encounter internal resistance should he pursue rate reductions. Achieving consensus among members concerned about inflation will be essential.

Financial markets responded to the announcement. Bitcoin decreased approximately 0.5% across 24 hours, hovering just beneath the $76,000 threshold.

Market Response to Federal Reserve’s Rate Decision

The Nasdaq registered a 0.35% decline. Treasury yields advanced, with the two-year note increasing 9 basis points to reach 3.93% and the 10-year climbing 5 basis points to 4.40%.

Elevated yields typically exert downward pressure on growth-oriented equities and speculative assets including cryptocurrencies. Wednesday’s market adjustments remained relatively contained but demonstrated consistent directionality.

Oil prices contributed an additional dimension to the Fed’s policy dilemma. WTI crude hovered near $105 per barrel, approaching post-conflict peaks.

Balancing Act: The Fed’s Dual Mandate Dilemma

Energy market dynamics directly influence headline inflation metrics, creating additional complexity for monetary policymakers. Elevated oil costs simultaneously threaten economic expansion, positioning the Fed between its dual objectives: price stability and economic support.

Powell was anticipated to elaborate on monetary policy direction during his post-decision press briefing. Market participants scrutinized his remarks for indications regarding the trajectory and timing of potential rate adjustments.

The Fed avoided committing to a specific policy path. Officials stated future decisions will be contingent upon forthcoming economic data and evolving macroeconomic conditions.

Bitcoin traded marginally below $76,000 when the decision was announced, while the Nasdaq maintained moderate losses heading into Powell’s press conference.

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Meta has begun offering select creators the option to receive payouts in USDC, expanding its payments model into blockchain-based transfers.

According to a support page published by Meta Platforms, eligible creators can receive USDC directly into crypto wallets operating on the Solana or Polygon networks. 

The company noted that payouts are processed through Stripe, which may also provide users with crypto-related tax reporting tied to these transactions.

Meta adds stablecoin payouts with external payment rails

“Only use a wallet address that accepts USDC on Solana or Polygon. Funds sent to an unsupported address or network cannot be recovered,” Meta stated in its documentation, warning that transfers to incompatible networks cannot be reversed.

“In the event of technical difficulties or unforeseen circumstances, Meta reserves the right to pay you using another payment method that you designate,” while placing responsibility for wallet security on the user, it added.

Supported wallets listed by Meta include MetaMask, Phantom, and Binance, giving creators multiple options to receive and manage their funds. Instructions provided by the company explain how users can convert USDC into local currency after receiving payouts.

The update was first reported by The Information, which noted that the rollout aligns with Meta’s earlier plans to explore stablecoin integrations through partnerships with third-party firms.

Meta’s entry into stablecoin payouts arrives as USDC infrastructure continues to scale across networks. 

According to Circle, its Cross-Chain Transfer Protocol is designed to “enable USDC to flow natively 1:1 between blockchains—unifying liquidity and simplifying user experience.” The system uses a burn-and-mint model to move tokens across chains without relying on wrapped assets or external liquidity pools.

Circle’s documentation on its USDC Bridge describes a process where “a sender deposits USDC for burn on the source network” before an attestation service authorizes minting on the destination chain, allowing transfers to function as if balances were being moved within a single ledger. 

Industry data cited in earlier analysis shows stablecoins processed about $33 trillion in transactions in 2025, with USDC alone accounting for roughly $8.3 trillion in January 2026.

Meta had previously experimented with digital asset payments through its Libra project, later renamed Diem, which was eventually shut down following regulatory pressure. 

Key Takeaways

• BTC slipped beneath $76,000 following the Federal Reserve’s decision to maintain rates between 3.5% and 3.75%
• Federal Open Market Committee meeting notes highlighted Middle East geopolitical risks as contributing to market “uncertainty”
• President Trump turned down Iran’s proposal to lift the Strait of Hormuz blockade ahead of nuclear negotiations
• Potential U.S. military action against Iran continues to loom, creating additional downward pressure on cryptocurrency markets
• Market analyst Ted Pillows identifies the $79,000–$80,000 zone as critical resistance BTC needs to break through

Bitcoin’s price tumbled beneath the $76,000 threshold on Wednesday as markets digested two significant headline events: the Federal Reserve’s decision to maintain its current interest rate policy, and President Trump’s dismissal of Iran’s diplomatic overture.

The central bank maintained its federal funds rate within the 3.5%–3.75% range. Meeting minutes from the FOMC highlighted escalating tensions across the Middle East region as a primary source of economic “uncertainty,” influencing the committee’s cautious stance.

Following the publication of the FOMC minutes, Bitcoin experienced an intraday decline to $74,937. This price level positioned the leading cryptocurrency marginally beneath its 20-day simple moving average of $75,664, a technical indicator that market participants have been monitoring with considerable attention.

Shubh Varma, CEO of Hyblock, characterized the movement as “the usual sell the news reaction after the FOMC.” He noted that Bitcoin managed to climb back toward pre-announcement price levels within a matter of hours, highlighting that the global bid-ask ratio surged to 0.3 — among its most elevated readings — suggesting persistent buying interest beneath the surface.

Crypto analyst Ted Pillows (@TedPillows) observed that BTC had successfully retested its support region and was beginning to rebound. He pinpointed the $79,000–$80,000 range as the critical resistance threshold Bitcoin must overcome, cautioning that inability to breach this level could push prices back toward $74,000.

Trump Dismisses Iranian Proposal, Hormuz Waterway Stays Closed

President Trump declined Iran’s diplomatic proposal to lift the Strait of Hormuz blockade prior to engaging in nuclear negotiations. Trump stated the maritime blockade will remain in effect until Iran commits to addressing American concerns regarding its nuclear capabilities, characterizing the blockade as “somewhat more effective than the bombing.”

The President also shared a message on Truth Social accompanied by the phrase “NO MORE MR. NICE GUY,” urging Iran to “get smart soon.” Reports indicate that the U.S. Central Command has developed contingency plans for a limited series of military strikes against Iran should diplomatic efforts continue to stall.

Crude oil markets responded with price increases to this development, compounding downward pressure across Bitcoin and the wider cryptocurrency sector.

Insights From Glassnode Analytics

Glassnode’s research team observed that Bitcoin market participants had increased bearish positioning in advance of the FOMC announcement, evidenced by expanding open interest, relatively neutral funding rates, and observable disconnects between spot and derivatives market indicators.

Their latest Week Onchain analysis characterized Bitcoin as “trapped below market mean,” with the $65,000–$70,000 range functioning as foundational support while insufficient demand continues to constrain upward price movements. Bitcoin has struggled to penetrate its True Market Mean positioned at $79,000.

According to Glassnode’s assessment, capital flows into spot BTC exchange-traded funds alongside expanding CME open interest have contributed to establishing a concentrated accumulation zone between $65,000 and $70,000.

At the time of publication, BTC was changing hands near $75,700, representing a decline from its intraday peak above $77,000.

Ouch.

That is how Holger Zschaeptiz, one of the most widely followed macro commentators on X, reacted after the yield on the 30-year U.S. Treasury note (government bond) rose to 5% early today, hitting the highest since July 2025. This level has been tested only twice over the past two decades.

His reaction also sums up the mood of several crypto analysts who see rising yields as a headwind for bitcoin BTC$75,724.51, the world’s biggest cryptocurrency by market value and a macro asset.

“At this point, the dynamic is simple. As long as yields remain attractive and [Fed’s monetary policy] stays tight, capital has a real alternative to risk. This continues to pressure assets like crypto, depending on liquidity and momentum,” Diana Pires, chief business officer at sFOX, said in an email to CoinDesk. sFOX is a San Francisco-based cryptocurrency prime dealer and trading platform designed for institutional investors, hedge funds, and businesses.

Bitcoin is already under pressure alongside an uptick in the Dollar Index (DXY). As of writing, BTC traded at $75,670, down 2% over 24 hours, and the DXY hovered above 99, looking to extend Wednesday’s 0.5% gain.

Here’s why rising bond yields typically hurt BTC and other risk assets. When the U.S. government needs to borrow money, it issues bonds, and the yield on those bonds is the annual return the bond investors earn. So, when yields rise, bonds become more attractive. A 30-year Treasury yielding 5% is an almost risk-free return.

Therefore, every dollar sitting in bitcoin is a dollar not earning that 5% yield. That tradeoff typically leads to capital rotation out of non-yielding risk assets, such as bitcoin and other risky assets like technology stocks. Rising yields also typically weigh on gold, which fell over 1% to a one-month low of $4,540 on Wednesday and last changed hands near $4,564.

“Rising Treasury yields and a stronger dollar [have] historically pressured crypto valuations by tightening financial conditions,” Vikram Subburaj, CEO of India-based FIU-registered Giottus exchange, said.

Note that the 30-year yield is not the only one rising. The 10-year yield, which serves as a benchmark for borrowing costs across the economy, is also elevated. Together, they point to financial tightening, a situation where borrowing gets costly, disincentivizing risk-taking in both financial markets and the economy.

Bond yields are also rising in the U.K. and other parts of the world.

Fed dissenters push back against easing

The central bank left rates unchanged between 3.5% and 3.75%, as expected. What was not expected was the internal dissent. Three out of 12 voting officials pushed back against easing language in the statement, a development that has caught markets off guard.

That’s pushed up expectations for higher-for-longer interest rates, which is showing up in bond yields.

“The Fed’s decision to keep rates steady wasn’t the shocker, but those three dissenters calling for a strike on any easing guidance threw a bucket of ice on the market’s pivot party. It’s a classic hawkish signal, and as Bitcoin is usually an indicator of risk, Bitcoin is feeling it,” Matt Mena, senior crypto research strategist at 21shares, said in an email.

ING characterized the so-called hawkish dissent by three officials as a warning shot aimed at incoming Fed Chair Kevin Warsh, Donald Trump’s pick to replace outgoing Chairman Jerome Powell. “They perhaps want to make it clear that they will not be easily swayed to his way of thinking that rates in time can be lowered,” ING analysts said.

Interestingly, the policy statement released Wednesday contained no clear bias toward easing, reinforcing the message that the Fed is in no hurry to pivot.

Oil rally is lifting inflation expectations

The bond yield surge is not just about the Fed. Early Thursday, oil prices surged to their highest since 2022, with Brent briefly topping $125 per barrel, after Trump mulled extending the blockade of Iranian ports. Moreover, oil prices have been elevated, hovering largely between $80 to $120 since the Iran war began in late February.

As a result, energy prices at gas stations are surging, pushing long-term inflation expectations higher, as CoinDesk noted early this week.

All of that is pushing yields higher.

“Inflation is not convincingly back to target, and the Fed is not signaling a near-term shift. Markets may want clarity on cuts, but the Fed is not giving yet. Until that changes, flows will keep favoring yield and safety over volatility. For crypto, that means the macro backdrop remains a headwind, not a tailwind,” Pires said.