Bitcoin flat at $64K as stocks hit records, oil falls on Hormuz deal
In brief
- Bitcoin traded just above $64,000, up under 1% on the day and flat over seven days
- S&P 500 and Dow closed at all-time highs as MSCI world index rose 0.4%
- Ether slipped to $1,864, down 2% on the week and the only major cryptocurrency in the red
Stocks surge, crypto stalls
The S&P 500 and Dow both closed at all-time highs Tuesday, while MSCI's All Country World Index rose 0.4% toward another record close. Bitcoin's flatness stands in contrast. The largest asset remains roughly 49% below the $126,000 it reached last October.
Ether slipped to $1,864 and is down 2% on the week, the only major in the red on that view. BNB added over 1% to $598 and leads the majors over seven days at 5%. Hyperliquid's HYPE was up 3% to nearly $56 and 3% higher on the week, standing out among the broader market's listlessness.
Macro tailwinds and tech splits
Brent crude fell 1.1% to about $78.50 a barrel after Axios reported Washington, Tehran and Oman were close to an agreement to reopen the Strait of Hormuz. Treasuries and gold both advanced as traders trimmed bets on further rate hikes.
Tech stocks showed mixed momentum. SK Hynix rose 6.4% after the Seoul open and Nvidia added over 2% after hours. But AMD dropped 9% on a soft sales outlook and SpaceX fell 7.5% on higher projected AI spending. The chop reflects investor caution even as equities mark new peaks.
