BizwavemediaPersonal Finance and Crypto Updates

Oil prices surged Wednesday as President Donald Trump warned Iran to reach a deal and reopen the Strait of Hormuz, keeping energy markets locked on the risk of a prolonged supply shock.

WTI crude climbed back above $100, trading near $105 at press time and up more than 6% on the day, while Brent crude rose roughly 5% and traded above $110, as traders priced in the risk of extended disruptions tied to the US Iran conflict.

Trump issued a new warning to Tehran early Wednesday, telling the regime to get smart soon and accept US demands for tighter controls on its nuclear program.

The warning comes as talks remain stalled over Iran’s nuclear program and the reopening of the Strait of Hormuz, one of the world’s most important energy shipping routes. Reuters reported that prices rose after reports that the US could extend its blockade of Iranian ports, while WSJ reported that Trump had told aides to prepare for a longer pressure campaign.

The escalation also widened beyond Hormuz. A senior Iranian lawmaker renewed a threat that Tehran could ask Houthi allies in Yemen to disrupt the Bab el Mandeb strait if the US continues intercepting Iranian ships, raising the risk of pressure across another key Middle Eastern energy chokepoint.

Defense Secretary Pete Hegseth faced lawmakers Wednesday for the first time since the Trump administration launched its joint war with Israel against Iran. The hearing, originally focused on the Pentagon’s proposed $1.5 trillion 2027 budget, quickly turned into a fight over the war’s cost, strategy, and lack of congressional approval.

Democrats accused the White House of entering an unnecessary conflict without authorization from Congress, while Hegseth defended the administration’s handling of the war. AP reported that Pentagon officials put the estimated cost of the conflict at about $25 billion so far, mainly tied to munitions and operations.

The Federal Reserve held interest rates steady Wednesday, leaving markets with a widely expected pause while traders turned their attention to Chair Jerome Powell’s possible final FOMC press conference.

The Federal Open Market Committee kept the federal funds rate target range at 3.5% to 3.75%, saying recent indicators suggest economic activity has continued to expand at a solid pace. The Fed said job gains have remained low on average, unemployment has been little changed in recent months, and inflation remains elevated, partly reflecting the recent increase in global energy prices.

Bitcoin was trading near $76,000 at press time, trading flat on the day, while major US stock indexes were slightly lower. The muted reaction reflected a market that had already priced in no rate change before the announcement.

The statement also sharpened its focus on geopolitical risk, saying developments in the Middle East are contributing to a high level of uncertainty around the economic outlook. Policymakers said they remain attentive to risks on both sides of the Fed’s dual mandate of maximum employment and 2% inflation.

Powell’s remarks are now the main focus for traders watching for signals on inflation, unemployment, energy driven price pressures, and the Fed’s next policy steps. His comments carry added weight because this could be his final FOMC meeting as chair, with markets also watching how he addresses the leadership transition and his outlook for the central bank after his departure.

The leadership transition is also moving into focus after the Senate Banking Committee voted Wednesday to advance Kevin Warsh’s nomination to replace Powell as Fed chair. Warsh’s nomination now heads toward a full Senate vote, adding another layer of uncertainty for markets already weighing the Fed’s rate path, inflation risks, and signs of cooling in the labor market.

The vote showed a broader split inside the committee. Stephen Miran opposed the decision because he preferred a 25 basis point rate cut, while Beth Hammack, Neel Kashkari, and Lorie Logan supported keeping rates unchanged but objected to including an easing bias in the statement.

The Fed said it will continue assessing incoming data, the evolving outlook, and the balance of risks before deciding on further policy adjustments. The committee added that it remains strongly committed to supporting maximum employment and returning inflation to its 2% target.

After a turbulent start to the year, there are tentative signs that the worst may be behind crypto markets, according to a joint report issued by Coinbase Institutional and Glassnode.

However, with the IMF cutting its global growth forecast to 3.1% and Oxford Economics warning of a potential recession scenario as severe as 1.4% GDP growth, the firms stopped short of an outright bullish call.

“Our outlook on crypto markets is neutral for 2Q26. The persistent and elevated levels of uncertainty surrounding the current geopolitical landscape make it extremely challenging to take short-term positions with conviction,” David Duong, Global Head of Research at Coinbase, noted.

Macro liquidity conditions and geopolitical risks tied to the Middle East continue to dominate price discovery across risk assets, including crypto.

Energy market disruptions remain the key variable, with any escalation threatening to quickly override crypto-native catalysts such as regulatory progress and the rise of agentic AI, factors the firms describe as structurally important but currently playing “second fiddle” to the greater uncertainty.

Despite these headwinds, there are emerging signs of stabilization, with technical indicators across crypto and equities improving and suggesting the potential for near-term market support, provided geopolitical conditions do not deteriorate further.

On-chain signals

Bitcoin’s MVRV ratio suggests the market is in an “accumulation zone.” Long-term holders, those who have sat on their coins for more than 155 days, appear to be adding to positions rather than selling. Short-term speculative supply dropped by 37% during the first quarter.

For Ethereum, the network’s NUPL metric dipped into “capitulation” territory during February’s sell-off. It lingered there for most of the quarter before showing early signs of shifting toward “Hope” in late March.

Stablecoin supply sitting on Ethereum is near all-time highs, and the total value of tokenized real-world assets on the network keeps climbing.

Ether has actually outperformed major layer 2 tokens since October 2025, suggesting capital is rotating back toward the base layer.

Stablecoins as a waiting room

Total stablecoin supply grew from $308 billion to roughly $318 billion during the first quarter, even as the broader market bled.

When traders sell crypto but park the proceeds in stablecoins rather than cashing out into fiat, they’re essentially sitting in the lobby instead of leaving the building. A meaningful pool of capital remains on the sidelines, ready to re-enter if conditions improve.

Survey results contradict themselves

A survey of 91 global investors conducted between mid-March and early April reveals a striking contradiction.

Roughly 82% of institutional respondents now classify the market as being in a bear or late-bear phase, up dramatically from 31% in December 2025. And yet, three out of four of those same institutions say Bitcoin is undervalued at current prices. Only 7% think it’s overpriced.

Bitcoin’s latest rally may still have room to run if Strategy keeps tapping STRC to fund new Bitcoin purchases, according to Bitwise CIO Matt Hougan.

In his weekly memo, Hougan said Bitcoin has climbed roughly 20% from its February lows and is trading near $76,000, supported by ETF inflows, renewed long term holder buying, and Strategy’s aggressive accumulation. He described Strategy as the single biggest factor behind the move after the company added $7.2 billion in Bitcoin over the past eight weeks.

Strategy has funded those purchases through STRC, a perpetual preferred equity instrument designed to trade around $100 per share while offering a high dividend yield. The yield currently stands at 11.5%, after Strategy raised it from 9% to help keep the instrument near its target price.

Hougan said Strategy issues STRC mainly to raise capital for additional Bitcoin purchases. While the dividend is largely funded by new capital raises, he argued the structure is backed by Strategy’s Bitcoin holdings, which currently stand at about $63 billion.

Strategy also has $8 billion in debt and $14 billion in preferred equity, leaving total obligations at about 33% of its Bitcoin holdings, according to the memo. Hougan said investors may begin asking harder questions if that figure moves toward 50%.

At current Bitcoin prices, that still leaves room for another $10 billion to $15 billion in STRC issuance, Hougan said. He added that STRC’s 11.5% yield could continue attracting buyers as junk bonds yield less than 7% and investors move away from private credit.

Robinhood shares fell more than 6% in after hours trading Tuesday after the trading platform reported first quarter earnings that missed Wall Street expectations, with weaker crypto revenue offsetting growth in equities, options, prediction markets, and subscriptions.

HOOD closed near $82 on Tuesday before dropping to around $77 in after hours trading at press time. Investors had expected Robinhood to report about $0.39 in earnings per share and revenue of roughly $1.14 billion. The company reported diluted EPS of $0.38 and revenue of $1.07 billion.

Robinhood’s total net revenue rose 15% year over year, while net income increased 3% to $346 million. Transaction based revenue climbed 7% to $623 million, helped by options, equities, and event contracts, but crypto revenue fell 47% to $134 million as digital asset trading cooled from last year’s levels.

The miss landed against elevated investor expectations after a volatile quarter for retail trading platforms. Analysts had expected Robinhood to benefit from higher trading activity, stronger net interest income, and new products, while also watching for pressure from weaker crypto volumes and rising competition. Options markets had priced in a potential move of up to 9% in either direction after the report.

Robinhood still pointed to growth across several core metrics. Net deposits reached $17.7 billion, representing a 22% annualized growth rate, while total platform assets rose 39% year over year to $307 billion. Gold subscribers increased 36% to 4.3 million, and average revenue per user rose 8% to $157.

The company also said it now expects 2026 adjusted operating expenses and stock based compensation of $2.7 billion to $2.825 billion, up from its prior outlook of $2.6 billion to $2.725 billion. The increase includes an additional $100 million tied to building and supporting the user interface for Trump Accounts.

Crypto sleuth ZachXBT called out Sam Altman’s Worldcoin in a post responding to Elon Musk’s “Scam Altman” broadside, saying the project deserves far more scrutiny than it gets.

ZachXBT said Worldcoin launched the WLD token with a predatory low float on par with Sam Bankman-Fried’s FTX companies, and preyed on people in low-income countries by exchanging small token amounts for biometric data.

The human verification technology it promised has instead produced a black market for verified accounts, ZachXBT said, while token supply inflates at unsustainable levels and insiders quietly offload holdings via OTC.

No one seems to mention Scam Altman’s other company WorldCoin aka World which launched with a predatory low float crypto token $WLD that was on par with SBF / FTX companies.

They have preyed on people from low income countries for biometric data by giving away small amounts of… pic.twitter.com/dZR0X1pJzt

— ZachXBT (@zachxbt) April 28, 2026

This is a developing story.

XRP-linked investment products swung back to inflows last week after shedding $56 million the week prior, as digital asset funds extended their winning streak for a fourth consecutive week.

According to CoinShares’ new report, Bitcoin led $1.2 billion in crypto fund inflows as institutional demand strengthened ahead of the upcoming FOMC meeting, where the Fed is expected to provide guidance on interest rate policy.

Bitcoin captured the bulk, attracting $933 million in a single week and bringing its year-to-date total to $4 billion. The asset was trading above $76,000 during the reporting period, its strongest showing since the correction that rattled markets in late February.

Ethereum pulled in $192 million, its third consecutive week above $190 million, while Solana and XRP collectively attracted around $47 million.

Regionally, the US accounted for roughly $1.1 billion of the total. Germany more than doubled its prior week’s contribution of $61.7 million. Switzerland, which had pulled in $138 million the week before, reversed course and added $35.2 million. Canada chipped in $15 million.

Blockchain equity ETFs, which hold shares of companies building on or around blockchain technology rather than the tokens themselves, recorded $617 million in inflows over three weeks, reaching record highs and reflecting surging investor interest.

The next major catalyst is the Fed meeting on April 28–29. With no rate move expected, Powell’s tone could either reinforce risk appetite or introduce downside risks.

Bitcoin slid below $77,000 after climbing past $79,000 yesterday, as the total crypto market value fell to $2.6 trillion, per CoinGecko.