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

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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.

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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 strength, the broader top 10 cryptocurrencies surrendered recent gains. Ethereum declined 2.6% weekly to reach $2,310. XRP tumbled 3.8% to $1.39. Solana decreased 3.2% to $84.57. BNB retreated 2.3% to $625.

Dogecoin emerged as the notable outlier, climbing 5.5% over the week to $0.1016. It remained the only top-10 non-stablecoin asset posting positive seven-day returns.

Consequently, Bitcoin’s market dominance metric has been gradually increasing. This pattern typically emerges during periods of macroeconomic uncertainty when capital flows toward the most established cryptocurrency.

Zaheer Ebtikar, founder of Split Research, explained to CoinDesk that this market behavior signals a fundamental transformation.

“The supply overhang has finally dried up,” he said. “Bitcoin is far less sensitive to regulatory noise or central bank policy than people think. Its sensitivity is purely a function of wider volatility.”

Critical Price Thresholds Under Trader Scrutiny

Bitget analysts highlighted $75,000 as the essential support threshold. A decisive breach below this level could trigger additional downward pressure. Conversely, a push back toward $80,000 from current levels would preserve the bullish structure.

Glassnode, an on-chain analytics provider, observed that ongoing disruptions in the Strait of Hormuz continue constricting supply and generating widespread market anxiety.

https://twitter.com/glassnode/status/2049116949343342999?s=20

Material Indicators, a trading analytics service, noted that BTC bulls lack strong conviction for a robust double-bottom recovery and cautioned about increasing volatility approaching the month’s end.

Analyst Ali Charts (@alicharts) highlighted that [[LINK_START_2]]Bitcoin[[LINK_END_2]] is penetrating a significant trendline, suggesting a possible momentum shift.

[[LINK_START_3]]https://twitter.com/alicharts/status/2049171282650906678?s=20[[LINK_END_3]]

Analyst Ted (@TedPillows) indicated that a monthly close above present levels could ignite a rally toward $80,000, whereas closing below would likely validate $79,500 as the local peak.

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The Federal Reserve’s upcoming rate decision announcement is scheduled for Wednesday. The European Central Bank follows Thursday. These monetary policy events could inject fresh volatility into both cryptocurrency and conventional financial markets.

BTC currently trades just beneath $77,000, maintaining its consolidation range as market participants await the next macroeconomic catalyst.

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