Bitcoin stalled around $78,000 on April 24 as broader risk assets lost momentum despite the S&P 500 hitting fresh all-time highs, with markets entering a wait-and-see phase amid uncertainty surrounding the U.S.–Iran conflict. Analysts noted that rising oil prices—hovering near $95 after approaching $100—are beginning to pressure equities and crypto alike, creating a “choppy” sideways environment. Market participants are increasingly focused on corporate earnings to sustain the equity rally, while on-chain and order-book data indicate weakening short-term momentum for BTC, including declining bid liquidity and softening order flow. Some traders expressed surprise that key support levels are still holding, but warned that without stronger catalysts, Bitcoin risks a deeper retracement if macro pressures, particularly from energy markets and geopolitics, continue to build.