## Bitcoin Flat as Global Stocks Hit Records

**Bitcoin** and other major cryptocurrencies remained **little changed** on Wednesday, even as global equities surged to fresh all-time highs on renewed **AI enthusiasm**. This divergence highlights a growing disconnect between crypto and traditional risk assets.

BTC traded just above **$64,000**, up less than 1% on the day and roughly flat over the past week. **Ether** slipped to **$1,864**, down 2% on the week, making it the only major token in the red. **XRP** fell nearly 1% to $1.07, **dogecoin** dropped to just under 7 cents, and **tron** slipped under 1% to 33 cents. **Solana** remained flat near $73.60, while **BNB** added over 1% to $598, leading majors over seven days with a 5% gain. **Hyperliquid's HYPE** was the standout performer, up 3% to nearly $56.

Meanwhile, the equity markets told a different story. **MSCI's All Country World Index** rose 0.4% toward another record close, its Asia Pacific benchmark gained 2.2%, and Australian shares hit a new peak. The **S&P 500** and **Dow** both closed at all-time highs on Tuesday. Tech stocks like **SK Hynix** jumped 6.4% and **Nvidia** added over 2% after hours, though **AMD** dropped 9% on a soft sales outlook and **SpaceX** fell 7.5% on higher projected AI spending.

## Macro Tailwinds Fail to Lift Crypto

**Brent crude** fell 1.1% to about $78.50 a barrel after reports that 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.

Despite these macro tailwinds—cheaper oil, easing rate expectations, and a risk-on equity bid—crypto has failed to rally for three consecutive sessions. Analysts suggest the drag is **internal market dynamics** rather than macroeconomic factors. Bitcoin sits roughly **49% below** its October peak of $126,000, while the second-largest asset is falling on the week.

## What to Watch: Hormuz Deal

Traders are now eyeing a potential **Strait of Hormuz deal** announcement, which could be the cleanest macro catalyst for crypto this week. If the market fails to rally on a confirmed deal after ignoring the prospect of one, it would signal that **buyers are elsewhere**.

BTC held near $64,000 as MSCI's world index set another peak and Brent fell toward a Hormuz deal. Ether is the only major down on the week.

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