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Bitcoin holds near $63,500 as oil risk returns with US-Iran truce

Only five cargo ships reportedly passed through the Strait of Hormuz on Saturday, down about 90% versus before the war.

Reported · Written up by our desk · Market Structure

Bitcoin was trading flat near $63,500, with price action staying capped below $64,000 even as market participants focused on a renewed oil-price risk tied to the US-Iran ceasefire.

CoinDesk reports a 60-day US-Iran ceasefire is set to expire Monday, with no deal in place and Hormuz shipping grinding to a near halt. Kpler data cited by the outlet showed only five cargo ships passed through the Strait of Hormuz on Saturday and none on Sunday, against 31 the prior weekend, and traffic is down about 90% from before the war began in February.

The same update says Tehran has told CNBC it has struck a separate deal with Oman to reopen the strait, but only if the US lifts its naval blockade. CoinDesk framed the crypto link as running through oil, arguing that a frozen chokepoint and a lapsing truce keep the tail risk of an oil-price spike alive, which can feed into inflation pressure and a more hawkish Fed stance.

CoinDesk also noted ETF flows are quietly trying to rebuild alongside the returning-demand case, while the supply shock scenario could firm the dollar and yields at the same time ETF activity attempts to recover.

Latest closeBitcoin $63,624.36 ▲1.3%

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