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Bitcoin stays below $65,000 as Hormuz hopes fade

U.S. equity index futures and major tokens were steady as traders looked ahead to Wednesday’s CPI, with XRP under pressure near the $1 level.

Reported · Written up by our desk · Market Structure

Bitcoin remained below the $65,000 mark, down 1.68% over the past 24 hours, after optimism around reopening the Strait of Hormuz unraveled overnight, CoinDesk reported. The shift followed President Donald Trump’s demand for 50 years of Iranian compensation as a condition for negotiations, which pushed Brent crude up to $89.08, more than 12% above last week’s low.

CoinDesk said Ether underperformed bitcoin on the day, falling 2.4% to about $1,884.89 as the broader crypto market was little changed Tuesday after an overnight dip. XRP also faced renewed pressure, with futures open interest growing the most of the day as it threatened to fall below $1 for the first time since 2024.

Traditional markets were similarly muted, with U.S. equity index futures flat as traders focused on Wednesday’s CPI report described as the week’s key catalyst. CoinDesk also pointed to a separate source of crypto selling pressure, noting Strategy sold an additional 1,690 BTC on Monday, its fourth consecutive weekly reduction, and has not bought bitcoin since June.

The report cited relative movers across smaller tokens: a DeFi token highlighted at $0.2591 rose 9.49% and extended a weekly gain to 27.29%, while Chainlink added 2.59% to $8.6758. Zcash led losses, falling 1.97% to about $486, and CoinMarketCap’s “Altcoin Season” indicator recovered from 37/100 to 41/100.

Latest closeWTI crude $82.30 ▲5.3%|Brent $87.85 ▲5.2%|Bitcoin $64,308.99 ▲0.6%

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