Bitcoin Clings to $64,000 as Iran Closures Hormuz and US Threatens Retaliation

Bitcoin pushed for a $64,000 reclaim despite the US-Iran war making a partial comeback and Binance spot sellers keeping up pressure from earlier in the week.

Bitcoin (BTC) returned to $64,000 on Sunday amid concerns over unreliable BTC price strength.

Data from TradingView showed BTC/USD hitting local highs of $64,522 on Bitstamp before reversing to trade 0.5% lower on the day.

BTC/USD one-hour chart. Source: Cointelegraph/ TradingView

The pair maintained most of its gains despite fresh instability in the US-Iran war, with Tehran once again closing the Strait of Hormuz oil route and placing the current peace deal in doubt.

Israeli strikes on Lebanon lay at the heart of the stand-off, with Iran warning that last week’s ceasefire could unravel entirely as a result. US President Donald Trump responded with defiant rhetoric.

“Iran must immediately stop their highly paid PROXIES in Lebanon from causing trouble,” he wrote in a post on Truth Social , threatening “harder” strikes on Iran.

Source: Truth Social

Hours before US futures markets were due to open, crypto traders were predictably cautious.

“$BTC is pumping with rising geopolitical tensions, very suspicious,” trader Lennaert Snyder commented on X.

Snyder nonetheless saw a potential move to $66,000 as part of the current uptick, predicting an “interesting week” for Bitcoin.

Fellow trader Killa, meanwhile, warned that history favored the week’s high coming sooner rather than later.

“Monday hasn’t been kind to $BTC lately,” they told X followers.

BTC/USD chart with Monday peaks marked. Source: Killa/X

Analysis of exchange order books produced further misgivings.

Related: Bitcoin tipped for Q3 'macro bottom' near $50K as major liquidity grab looms

Commentator Exitpump said that short interest on Binance meant that it was the derivatives markets behind the latest price rise.

“Despite price slowly grinding higher, Binance spot continues to sell into the move. Mostly perps driven move up,” they wrote on Saturday.

BTC/USD 10-minute chart with order-book data (Binance). Source: Exitpump/X

Earlier, Cointelegraph reported on persistent “aggressive” sell pressure from Binance keeping bulls in check.

Cointelegraph is committed to providing independent, high-quality journalism across the crypto, blockchain, AI, and fintech industries.

All news, reviews, and analyses are produced with full journalistic independence and integrity. For more details on our standards and processes, please read our Editorial Policy .

新闻图片