Bitcoin trades above $77,000 as oil's 5% slide pushes Asian equities higher
Bitcoin has risen above $77,000, buoyed by a significant drop in oil prices. The decline in oil is linked to potential developments regarding the reopening of the Strait of Hormuz, which has positively impacted Asian equities. Despite this, caution remains in the market due to substantial outflows from ETFs over the past two weeks.
- ▪Bitcoin traded near $77,200, up 0.4% from midnight UTC.
- ▪Oil prices dropped more than 5%, contributing to a rise in Asian stock markets.
- ▪Traders are closely monitoring Bitcoin's position above its 50-day moving average.
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MarketsShareShare this articleCopy linkX iconX (Twitter)LinkedInFacebookEmailBitcoin trades above $77,000 as oil's 5% slide pushes Asian equities higherOil’s 5% drop on potential Strait of Hormuz reopening boosted Asian equities and supported crypto sentiment.By Omkar Godbole May 25, 2026, 7:11 a.m. 2 min readMake preferred on BTC's price. (CoinDesk)What to know: Bitcoin trades near $77.2K, holding above its 50-day average, while ETH, XRP, and SOL lag below theirs.Oil’s 5% drop on potential Strait of Hormuz reopening boosted Asian equities and supported crypto sentiment.Caution persists as ETF outflows exceed $2 billion in two weeks.
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