Fed Hold and Middle East Tensions Pull Bitcoin to $75,100

Bitcoin fell from an intraday high of $77,882 to $75,100 on April 29 after the Federal Reserve left interest rates unchanged and oil prices rose amid renewed tensions in the Middle East. The decline erased part of the day’s gains and put the cryptocurrency’s short-term performance into negative territory.

The asset began the session just above $76,000 and moved past $77,000 in an early rally. A second surge around 5:30 a.m. EDT pushed the price to $77,882 before a sharp sell-off brought it down to about $75,100 by 1 p.m. EDT, a roughly 1.3% decline over 24 hours. Bitcoin’s market capitalization was near $1.52 trillion, and the token remained on track for double-digit percentage gains for April.

The Federal Open Market Committee opted to hold policy rates steady. Federal Reserve Chair Jerome Powell, at his final press conference, cited escalating conflict in the Middle East and persistent energy inflation among factors behind the decision to pause.

Brent crude moved back toward levels seen before a temporary U.S.-Iran ceasefire, and higher oil prices coincided with the intraday swing in bitcoin. Reports indicate the U.S. plans to maintain a tight blockade on Iranian oil, and some officials have advocated for more forceful measures. Analysts say renewed strikes on Iranian targets could lead to retaliatory attacks on Gulf energy infrastructure.

A Bitunix analyst warned, “A renewed rise in energy prices would directly constrain the market’s ability to price aggressive Federal Reserve easing. BTC may still maintain a relatively strong risk-asset structure in the short term, but if elevated oil prices persist for longer, expectations for future liquidity conditions could once again come under pressure.”

Global equities showed marginal losses during the week, and bitcoin’s price changes tracked that broader pattern of tepid market movement. Rapid intraday swings reflected quick reactions from short-term traders to monetary policy and geopolitical headlines.