Bitcoin price slip wipes weekend gains as oil surge hits 5% on Hormuz disappointment
Bitcoin fell below $64,500 after the US market open as investors reacted to rising US-Iran tensions. BTC briefly touched $64,447 on Bitstamp, its lowest since Friday, alongside a broader risk-off move in stocks and oil. Iran’s deputy speaker said reopening the Strait of Hormuz has “no military solution,” while WTI crude rose nearly 5% to about $80.90 a barrel. The S&P 500 recovered later in the session but stayed below recent highs. The yen also weakened further against the dollar, with USD/JPY reaching 159 despite a prior joint Japan-US intervention. Bitcoin’s rebound looks fragile, with analysts saying spot-market momentum is still weak even as spot ETF inflows remain strong. US Bitcoin ETFs took in $865.3 million last week, and hedge funds reportedly flipped net long on CME BTC futures, a rare bullish positioning shift.
