Bitcoin Stagnant at $64,000 Amid Global Stock Records and Strait of Hormuz Deal Nears
Despite global stock indexes hitting fresh records, major cryptocurrencies including Bitcoin and Ether remain largely unchanged. On Wednesday, BTC traded just above $64,000, up under 1% on the day but roughly flat over seven days. In contrast, equities have been driven to new highs by renewed enthusiasm for artificial-intelligence-related shares.
The Strait of Hormuz deal, which is reportedly close to being finalized and may be announced as early as Wednesday, has failed to move crypto markets despite cheaper oil, easing rate expectations, and a strong risk-on rally in equities. Analysts suggest that the drag on digital assets appears to be driven by internal market dynamics rather than macroeconomic factors.
Other major tokens such as XRP, dogecoin, and tron were little changed or down slightly, while Solana remained flat near $73.60. BNB, however, added over 1% to $598 and leads the majors over seven days at 5%. Hyperliquid's HYPE was the standout, up 3% to nearly $56.