Bitcoin Nears $65,000 as U.S.-Iran Diplomatic Standoff Deepens

The cryptocurrency traded between $64,005 and $64,926 during the session, showing resilience despite the absence of fresh buying from major corporate holder Strategy. While Trump insisted via Truth Social that the Strait of Hormuz remains operational and under U.S. naval control, Iranian chief negotiator Mohammad Baqer Qalibaf disputed the claim. Tehran maintains that the critical waterway will stay closed until the United States lifts sanctions and fulfills conditions from a June interim agreement that has since expired.

Energy markets remain sensitive to the standoff, as the strait previously accounted for one-fifth of global oil and LNG supplies. Brent crude reached $91.46 per barrel, a surge that complicates the inflation outlook for Federal Reserve policymakers. Elevated fuel costs and rising Treasury yields have weighed on equity markets, with the Nasdaq Composite slipping 1.4% as investors weigh the risk of higher interest rates. Meanwhile, attention in the digital asset sector has pivoted to an upcoming White House meeting involving major industry players, including Coinbase and Ripple, as the Digital Asset Market CLARITY Act faces significant legislative hurdles in the Senate.