Trump's Hormuz Rejection Triggered Crypto Stock Drop

President Trump’s rejection of Iran’s offer to reopen the Strait of Hormuz sparked a risk-off move: oil jumped (WTI topped $100/bbl, ~+6%) while crypto-focused equities plunged, pressuring the broader crypto sector. Bitcoin (BTCUSD) traded around $77.9k, up ~2% intraday, but exchanges and trading-revenue dependent stocks saw heavy losses — Robinhood plunged ~14%, Coinbase and Bullish down ~8%, with MicroStrategy and Marathon-related names also weaker. The piece frames the selloff as geopolitically driven, reducing risk appetite ahead of the Fed decision and major tech earnings (Alphabet, Amazon, Microsoft), and provides BTC technical levels (RSI ~59, EMA20 ~75.7k) suggesting sideways/neutral price action despite stock weakness.