Bitcoin rises to $77 000 amid approaching Fed decision, while Trump prepares for a long-term blockade of the Strait of Hormuz Bitcoin trades within a narrow range just below the $77 000 mark amid a sharp rise in oil prices and geopolitical tensions due to a possible prolonged U.S. naval blockade of the Strait of Hormuz. Major altcoins, including Ethereum, XRP, Solana, and BNB, have decreased over the past week, while dogecoin is the only token among the top 10 non-stablecoins to show growth, boosting Bitcoin's market dominance. Analysts note that Bitcoin's subdued reaction reflects exhausted supply and reduced sensitivity to regulator and central bank news, with the $75 000 level considered a key support on the downside, and a return to the $80 000 mark is necessary to maintain the current rally structure. Bitcoin shows no change, while everything around it moves. The largest cryptocurrency, just below $77 000 on Wednesday during Asian hours, has increased by only 0.1% over 24 hours and decreased by 0.8% over the week, maintaining a narrow range despite Brent crude surpassing $111 per barrel on the Wall Street Journal report that President Donald Trump has instructed aides to prepare for a prolonged naval blockade of the Strait of Hormuz.

April 29, 2026 $BTC Market Trend Analysis for the Day Brothers, good afternoon, the rebound has begun. Today, keep an eye on 775 for Bitcoin, and 2340 for Ethereum (although based on yesterday's analysis, Ethereum has already entered the position). These two levels are roughly halfway between the recent top and bottom. Only a strong breakout will signal the market starting to strengthen and move toward the previous high of the 27th, so those without short positions can consider a light short. For the intraday, watch the 765 level for Bitcoin. As long as the pullback does not break this level, the price will still rebound within 1-2 hours, aiming higher toward 794 and 815, waiting for short entries near these levels. If today’s hourly drops below 765, expect the price to move down to the 750, 735, or 723 levels for long entries. For Ethereum, today watch around 2300. As long as the pullback does not break this hourly level, expect a rebound, aiming higher toward 2340, 2375, and 2400, waiting for short entries near these levels. If today’s hourly drops below 2300, expect the price to move down to 2260, 2215, or 2175 for long entries. For Solana today, watch the 84 level. As long as the 4-hour pullback does not break below 85, 87, or 89, expect short entries near these levels. If today’s 4-hour candle breaks below 84, then look for long entries near 83, 81, or 79.