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Bitcoin Rises to $77,000 Ahead of Fed Decision as Trump Prepares for Prolonged Strait of Hormuz Blockade
Bitcoin is doing nothing while everything around it is moving.
The largest cryptocurrency slipped slightly below $77,000 during Wednesday’s Asian session, rising just 0.1% over 24 hours and falling 0.8% over the week, holding in a tight range even as Brent crude climbed above $111 per barrel following a Wall Street Journal report that President Donald Trump had instructed aides to prepare for a prolonged U.S. naval blockade of the Strait of Hormuz.
“Iran said the country is in collapse,” Trump wrote Tuesday on Truth Social, while Tehran signaled it could accept a temporary agreement to reopen the strait if Washington lifts the blockade of Iranian ports.
Ethereum fell 2.6% to $2,310 over the week. XRP declined 3.8% to $1.39. Solana dropped 3.2% to $84.57. BNB fell 2.3% to $625. The exception was Dogecoin, which rose 5.5% to $0.1016 over the week, becoming the only top-10 token aside from stablecoins to post gains over seven days.
As a result, Bitcoin dominance in the market is gradually rising again, which typically happens during periods of macroeconomic tension when capital flows into the largest asset.
Zahir Ebtikar, founder of Split Research, noted in a report that Bitcoin’s relative calm indicates a shift in market structure.
“Excess supply has finally dried up, and sellers spooked by macro shifts or quantum fears have already exited, leaving the market far less active on the sell side than just a few months ago,” he said.
“Bitcoin is far less sensitive to regulatory swings or central bank policy than people think. Its sensitivity is purely a function of overall volatility, and since we are now in a calmer trading range, there is no need to rush exits,” Ebtikar added.
Technical levels have become clearer. Analysts at Bitget identified $75,000 as the level where the ascending range that has held since late March would break, with a clean move potentially opening the door to further downside.
A move back toward $80,000 from current levels would preserve the rally structure and set the stage for another test of resistance that has rejected Bitcoin at every attempt since February.
The Federal Reserve will announce its interest rate decision on Wednesday, the ECB on Thursday, while the U.S. stock market fell Tuesday amid growing skepticism about returns on AI investments, with Nasdaq 100 futures rebounding 0.4% during Asian hours.
Brent crude prices fluctuated but remained elevated around $111 following the blockade reports, increasing pressure on inflation expectations ahead of central bank decisions.
Traders may watch whether the apparent exhaustion of Bitcoin supply persists under the next macroeconomic shock. If Ebtikar’s view is correct, the seller base that capitulated in March and April has disappeared, and Bitcoin will trade on volatility rather than news until something triggers a new wave of selling. If not, the $75,000 level will be quickly tested, and the range breakdown highlighted by Bitget will materialize.
See also: "Bitcoin Holds Steady Near $77K Ahead of Fed Decision"
