Bitcoin Remains 49% Below Its Peak While Stock Markets Hit Records: Eyes on the Critical Deal

While global stock markets climb to record levels driven by the AI boom, Bitcoin (BTC) is trading sideways at the $64,000 level, decoupling negatively from traditional markets.

The cryptocurrency market is experiencing an unusual stagnation at a time when global stocks are hitting new peaks. Despite the S&P 500 and Dow Jones indices closing at all-time highs, the leading cryptocurrency Bitcoin is surprising investors by staying just above $64,000. This suggests strong indications that the pressure on the market stems from internal dynamics rather than external macroeconomic factors.

Showing less than a 1% daily increase, Bitcoin continues to trade approximately 49% below its $126,000 peak reached in October of last year. While a similar picture prevails for other major assets, only BNB is decoupling positively with a 5% weekly rise. Although Brent crude prices falling to $78.50 on positive news regarding the Strait of Hormuz and the appreciation of bonds create an environment of increased risk appetite, crypto assets are struggling to join this rally on the exchange screens.

The Strait of Hormuz Deal: A Critical Threshold for Crypto

Market observers identify the expected agreement between the US, Iran, and Oman to reopen the Strait of Hormuz as this week’s most important macro catalyst. While this development, reported by Axios, is expected to be officially announced, the drop in oil prices is projected to provide relief to the global economy. However, despite the heavy trading volume in financial hubs and the records in stocks, the silence on the crypto side suggests that buyers may have turned to other areas for now.

If even news of a concrete deal regarding a critical region like the Strait of Hormuz cannot move the market, it will reveal the depth of the pressure on digital assets. A market that fails to rise during the expectation phase and remains unresponsive when the deal is finalized is interpreted as buyers taking positions in other markets. Despite cheaper oil and easing interest rate expectations, cryptocurrencies have been treading water for the last three sessions, failing to catch the macroeconomic tailwinds.