Bitcoin (BTC) Holds Firm at $77K While Oil Rockets Past $111 and Altcoins Tumble

Quick Overview Bitcoin maintains position just under $77,000 with a modest 0.1% increase over 24 hours Crude oil prices jumped above $111 per barrel following news of potential U.S. naval blockade in the Strait of Hormuz Leading altcoins including ETH, XRP, SOL and BNB post weekly losses; Dogecoin stands as sole gainer Market expert Zaheer Ebtikar suggests seller exhaustion has reduced BTC’s reaction to macroeconomic developments Critical price zones: $75,000 represents crucial support level, $80,000 breakout needed to sustain bullish momentum Bitcoin continues to demonstrate remarkable stability around the $77,000 mark despite turbulence in energy markets and a broader cryptocurrency selloff. The flagship digital asset shows a minimal 0.1% gain over the last day while posting a 0.8% weekly decline. Bitcoin (BTC) Price Brent crude oil prices surged beyond $111 per barrel after the Wall Street Journal revealed that President Donald Trump instructed advisors to prepare for a prolonged U.S. naval blockade in the Strait of Hormuz. WTI crude simultaneously crossed back above the $100 threshold on Tuesday. In a Truth Social post, Trump claimed Iran communicated it was experiencing a “State of Collapse” and sought the reopening of the Strait. Iranian officials have suggested openness to an interim agreement contingent on Washington removing its blockade of Iranian ports. [[LINK_START_0]]https://twitter.com/wallstengine/status/2049119139370045712?s=20[[LINK_END_0]] The energy market turmoil sent shockwaves through risk-sensitive assets. U.S. equity markets opened in negative territory Tuesday, though Nasdaq 100 futures managed to recover 0.4% during Asian trading sessions. BTC/USD experienced a brief drop below $76,000 during Tuesday’s Wall Street opening before staging a modest recovery. This marked a seven-day low and reversed much of the earlier weekly gains. Alternative Cryptocurrencies Struggle as Bitcoin Dominance Expands While Bitcoin demonstrated relative strengt...