Bitcoin Trades Below $77K as Solana and Ether Decline Amid Oil Price Surge
Bitcoin tests $76,923 on April 28, 2026, down 2.4%, with significant declines also seen in Solana and Ether as Brent crude prices rise. CoinDesk reports that the market is influenced by geopolitical tensions and upcoming economic events.
On April 28, 2026, Bitcoin trades at $76,923, experiencing a 2.4% drop over the previous 24 hours, following a rejection of the $79,400 mark. The decline also affects other major cryptocurrencies, with Ether falling 3.7% to $2,290, Solana decreasing 3.9% to $84.10, and XRP down 3.2% to $1.39. The entire top 10 cryptocurrencies closed in the red except for Tron and Dogecoin.
This decline occurs against a backdrop of rising oil prices, as Brent crude rises 1% to over $109 per barrel. The increase in oil prices follows failed negotiations regarding the reopening of the Strait of Hormuz amid geopolitical tensions involving Iran. Analysts point to a potential correlation between fluctuations in oil prices and investor sentiment in the crypto market.
Market analysts express divided opinions regarding the current rally. Some, like Mike Novogratz of Galaxy Digital, suggest that renewed demand from retail and institutions may signal further upward potential for Bitcoin. In contrast, others, including Ki Young-Ju of CryptoQuant, argue that the rise was largely driven by a short squeeze in the derivatives markets, leaving the market at risk for a reversal once the short positions are exhausted. The prevailing funding rates on perpetual futures, which are currently negative, indicate a reliance on short positions, suggesting the volatility may continue.
Looking ahead, crucial economic events, including the Federal Reserve’s policy decision and major tech earnings from companies like Alphabet and Microsoft, could significantly influence market trends. Investors are watching these developments closely for potential catalysts to break Bitcoin's barriers above $80,000, particularly following three recent rejections at the same level.
Summary based on original reporting by Shaurya Malwa at CoinDesk, originally published Apr 28, 2026. SolanaWire does not republish source content.
CZ Advocates for U.S. Crypto Leadership in Recent CoinDesk Interview
Binance founder Changpeng Zhao, known as CZ, shares his vision for the United States as the potential 'capital of crypto' in an interview with CoinDesk. He discusses his insights on the crypto market, including its bear market causes and strategies for Binance.US to enhance liquidity.
9 hours ago·CoinDesk·Reported by Nikhilesh De
SBI Acquires Bitbank for $289 Million Amid Japan's Crypto Consolidation
SBI Holdings has purchased Japanese crypto exchange Bitbank for $289 million, signaling market consolidation as regulations tighten, according to CoinDesk. The acquisition boosts SBI's assets under custody to approximately 1.1 trillion yen and enhances its digital asset strategy, addressing the rising costs of operating independent exchanges.
14 hours ago·CoinDesk·Reported by Will Canny
Samson Mow Claims Bitcoin Bottom Is Reached Despite Analysts' Doubts
Samson Mow argues that Bitcoin's price bottom has been established, asserting that the traditional four-year halving cycle is changing, as reported by CoinDesk. However, many analysts disagree, indicating potential for further price declines based on various technical indicators.
14 hours ago·CoinDesk·Reported by Olivier Acuna
Michael Saylor Confirms More Bitcoin Purchases Despite Stock Decline
Michael Saylor indicates further bitcoin purchases as Strategy holds 847,363 bitcoins valued at about $50.9 billion, according to CoinDesk. Despite bullish intentions, the firm's stock faces challenges amid scrutiny over its funding model and recent drops in share price.
14 hours ago·CoinDesk·Reported by Olivier Acuna
Trending this week
Binance Withdraws Greek MiCA Bid, Pursues Alternative EU License
Binance has officially withdrawn its application for a Markets in Crypto-Assets (MiCA) license in Greece and will seek authorization in another EU member state, as reported by CoinDesk. The company faces a deadline of July 1 to secure a license or cease operations across the European Union.
4 days ago·CoinDesk·Reported by Olivier Acuna
Aave and Internet Computer Lead Performance in CoinDesk 20 Update
On June 24, 2026, Aave (AAVE) recorded a gain of 5.9% in the CoinDesk 20 Index, which increased 0.5% overall, according to CoinDesk. Internet Computer (ICP) also performed well, rising by 2%.
5 days ago·CoinDesk·Reported by CoinDesk Indices
Framework Ventures Shifts Focus to Financing AI and Robotics with $400M Fund
Framework Ventures announces a new $400 million fund aimed at using blockchain technology to finance artificial intelligence, robotics, and energy infrastructure. Co-founder Michael Anderson highlighted the evolution of crypto from speculation to addressing real-world financing needs in an interview with CoinDesk.
16 hours ago·CoinDesk·Reported by Krisztian Sandor
Cyberpunk Predictions on AI and Corporate Power Becoming Reality
Cyberpunk's visions of future technology, such as AI-powered devices and brain-computer interfaces, are materializing, although not as expected, according to Decrypt. Experts highlight that the genre's warnings on corporate dominance may have greater relevance today than its technological forecasts.
16 hours ago·Decrypt·Reported by Jason Nelson
