Crypto markets held their ground on Thursday while U.S. stocks dropped and oil rallied.

Bitcoin (BTC) is trading at around $70,200, unchanged over the past 24 hours. Meanwhile, ETH is also flat at $2,070, and SOL is down 1% to $86.

The overall crypto market capitalization slipped 0.2% to $2.48 trillion, according to Coingecko.

Crude oil (WTI) is inching back towards $100 per barrel despite yesterday’s pledge from the International Energy Agency (IEA) to release 400 million barrels from emergency stockpiles.

The S&P 500 and the Nasdaq dropped 1.5% and 1.8%, respectively, amid concerns about a downturn in private credit after Morgan Stanley became the latest…