Bitcoin · Strait of Hormuz · Iran · CoinDesk
Bitcoin holds near $64,000 as a renewed Hormuz threat clouds US-Iran ceasefire talks
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Bitcoin steadied near $64,000 over the weekend, clawing back part of Friday's drop, as traders weighed the start of US-Iran ceasefire talks against a renewed threat to close the Strait of Hormuz.
Key facts
- Ether rose 0.5% on the day and 3.3% on the week to $1,734, solana gained 1.5% to $73 and tron added 1.2%
- In May, combined exchange volumes fell 3.45% to $4.41T; the lowest since September 2024
- The token traded around $64,200 on Sunday, up 0.9% over 24 hours but roughly flat on the week, per CoinDesk data, after dropping below $63,000 on Friday
- Hyperliquid's HYPE slipped 2% on the day but remains the week's standout, up 14.8%
Summary
Bitcoin hovered around $64,200 over the weekend, recovering part of Friday’s slide but leaving prices roughly unchanged for the week. Major cryptocurrencies mostly firmed, with ether, solana and tron posting weekly gains while dogecoin lagged and Hyperliquid’s HYPE remained the standout performer. Markets are focused on US-Iran ceasefire talks in Switzerland and Iran’s renewed threat to close the Strait of Hormuz, developments that could swing oil prices and broader risk assets, including bitcoin. The token traded around $64,200 on Sunday, up 0.9% over 24 hours but roughly flat on the week, per CoinDesk data, after dropping below $63,000 on Friday.