BTC's momentum ran into the Pentagon

Pentagon told Congress Hormuz mine-clearing takes 6 months. WTI at $95. BTC is the only major holding green. ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ ​ SPONSORED BY Thursday, April 23, 2026   Bitcoin’s push toward $80,000 has run into a wall it can’t see yet — a classified Pentagon briefing told U.S. lawmakers that mine-clearing in the Strait of Hormuz could take at least six months. WTI crude is back to $95, the 10-year Treasury yield climbed 8 basis points to 4.32%, and altcoins are closing red while BTC alone holds green. The bull score index has just flashed neutral for the first time since October’s record high — a potential cycle-low signal, though analysts are flagging caveats. Read today’s full report → Market snapshot As of 8am EST Asset Price 24h BTC $77,540 +0.40% ETH $2,344 −0.70% SOL $85.83 −1.50% XRP $1.42 −1.70% Prices approximate. Visit coindesk.com/price for live data. A message from Grayscale Grayscale Solana Staking ETF (ticker: GSOL) is now delivering enhanced value to investors, including 100% staking. Solana staking rewards have historically averaged 6-8% a year.1 Learn more here.   Grayscale Solana Staking ETF (GSOL), an exchange traded product, is not registered under the Investment Company Act of 1940, as amended (“40 Act”), and therefore is not subject to the same regulations and protections as 40 Act registered ETFs and mutual funds. GSOL is subject to significant risk and heightened volatility. GSOL is not suitable for an investor who cannot afford to the loss of the entire investment. An investment in GSOL is not a direct investment in Solana. Learn more   Please read the prospectus carefully before investing in the Fund. Foreside Fund Services, LLC is the Marketing Agent for the Trust.   Potential staking rewards are earned by the Fund. The Fund’s ability to engage in staking is conditional and may be modified. Staking requires that the Fund lock up SOL for the period of time required by the staking protocol, meaning the Fund cannot sell or transfer the staked SOL, thereby making it illiquid for the period it is being staked.   1 Stakingrewards.com. The range observed is from 09/16/22 to 09/28/25 and the average over this period is 7.10%. Past performance is not indicative of future results. What matters today Macro   Story 1 of 3 Pentagon told Congress the Strait takes 6 months to clear. Oil is back at $95. A classified Pentagon briefing revealed that clearing mines from the Strait of Hormuz could take at least six months — a structural inflation warning that markets had not priced. WTI crude climbed back to ~$95, the U.S. 10-year Treasury yield rose 8 basis points to 4.32%, and the UK gilt surged 18 basis points to 4.96%. Rising energy costs and tighter financial conditions are weighing on risk assets just as bitcoin’s rally was gathering steam above $79,000. Iranian gunboats fired on commercial ships in the Strait on Wednesday, and Vance’s Islamabad trip was cancelled after Iran declined to send a delegation, darkening the short-term diplomatic picture. Read more → Markets   Story 2 of 3 BTC is up 4% on the week. Every other major is flat or red. That gap matters. Bitcoin is the only top-10 asset in positive territory over the past 24 hours, leading its peers by a wide margin on the weekly chart. Analysts warn, however, that the bid is narrow and concentrated in perpetual futures rather than spot buying — funding rates have stayed negative for 47 consecutive days, the longest such run since the FTX collapse in late 2022. That divergence raises the risk of a quick reversal if macro headwinds deepen. The constructive signal: bitcoin’s bull score index just flashed neutral for the first time since October’s record high, historically a marker of cycle lows. The BTC/gold ratio’s 50-day average is also approaching a bullish crossover above the 100-day. The 200-day moving average at $85,900 is the next major target if momentum resumes. Read more → Policy   Story 3 of 3 ETF inflows hit their strongest week in a month. Banks want to slow the GENIUS Act. U.S.-listed spot bitcoin ETFs logged their strongest week of inflows in a month even as the Pentagon briefing spooked bond markets, reinforcing the thesis that institutional buyers are treating macro dips as entry points. On the policy front, U.S. banking groups are pushing back on the GENIUS Act’s pace, arguing that multiple federal agencies are moving too fast on stablecoin regulation for the rules to be coherent. The Clarity Act also faces a tightening Senate calendar despite still having a path through. Both bills are material for crypto market structure — and both are now running against the clock with the FOMC meeting on April 28–29 dominating macro attention. Read more → CoinDesk Disclosure: The information contained in this newsletter, and any information linked through the items contained herein, is not intended to provide sufficient information to form the basis for an investment decision. You should seek additional information regarding the merits and risks of investing in any cryptocurrency or digital assets. L1.co Disclosure: This material is for informational purposes only, and the content contained herein should not be considered investment advice or a solicitation, offer, or recommendation to sell or buy any asset, strategy, or product. Investing in digital assets involves a high degree of risk, including the loss of principal. Crypto Daybook Americas: A newsletter from CoinDesk Were you forwarded this newsletter? Sign up here.  Copyright © 2026 CoinDesk, All rights reserved.  CoinDesk, Inc., 61 9th Avenue, 5th Floor, New York, NY 10011, USA Unsubscribe Manage preferences