Bitcoin rises to $77,000 ahead of Fed decision as Trump preps for lengthy Hormuz block
Bitcoin held near $77,000 ahead of the Fed's rate decision, showing little movement despite rising oil prices and geopolitical tensions over a potential extended U.S. naval blockade of the Strait of Hormuz. Major altcoins declined over the past week, while dogecoin was the only top-10 non-stablecoin gainer, boosting bitcoin's market dominance. Analysts attribute bitcoin's stability to supply exhaustion and reduced sensitivity to macro headlines, with $75,000 seen as critical support. Oil prices climbed above $111 on the Hormuz blockade reports, increasing inflation concerns before central bank announcements.
- ▪Bitcoin traded just below $77,000 with minimal 24-hour change, maintaining a tight range amid rising oil prices and geopolitical tensions.
- ▪Ether, XRP, Solana, and BNB all declined over the week, while dogecoin rose 5.5%, the only top-10 non-stablecoin token in positive territory.
- ▪Analysts suggest bitcoin's muted reaction reflects supply exhaustion and a reduced influence of regulatory or central bank news on price action.
- ▪Technical analysts view $75,000 as key support; a break below could undermine the current rally, while a move toward $80,000 would reinforce bullish structure.
- ▪Brent crude oil prices exceeded $111 due to reports of a planned extended U.S. naval blockade of the Strait of Hormuz under the Trump administration.
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MarketsShareShare this articleCopy linkX iconX (Twitter)LinkedInFacebookEmailBitcoin rises to $77,000 ahead of Fed decision as Trump preps for lengthy Hormuz blockBitcoin is sitting almost still while the rest of the majors give back gains and oil pushes above $111 on reports of an extended U.S. naval blockade against Iran.By Shaurya Malwa|Edited by Sam ReynoldsUpdated Apr 29, 2026, 4:29 a.m. Published Apr 29, 2026, 4:27 a.m. Make preferred on What to know: Bitcoin is trading in a tight range just below $77,000 despite surging oil prices and geopolitical tensions over a potential extended U.S.
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