Bitcoin climbed to $65,209 on Monday, holding above the $65,000 mark as reports emerged that Iran may strike a deal with Oman to reopen the Strait of Hormuz. The news also lifted Nasdaq 100 futures, which gained 0.45%, as traders scaled back worries about a prolonged disruption to one of the world's key energy shipping lanes.
Why the strait matters
The Strait of Hormuz sits at the mouth of the Persian Gulf, and a large share of the world's seaborne oil moves through it. When the strait is threatened, energy prices tend to jump and risk assets tend to wobble. The reports of a possible Iran-Oman deal directly target that fear — reopening the strait would remove a major supply risk that had been hanging over markets.
The concern wasn't just about oil. A prolonged closure would feed into inflation, which in turn would pressure central banks to keep rates higher for longer. That's the kind of scenario that hits both equities and crypto, so the prospect of a resolution was always going to be a relief.
What the reports say
The details are still thin. Reports over the weekend pointed to talks between Iran and Oman that could lead to the strait being reopened, but no formal agreement has been announced. The market didn't wait for confirmation. Traders moved on the headline, and the buying was broad enough to lift both crypto and equities futures.
That's not unusual in this kind of situation. When a geopolitical risk has been priced in for a while, the first hint of a resolution can trigger a sharp reversal, even if the underlying deal is far from done.
How markets moved
Bitcoin's rise to $65,209 puts it back above $65,000, a level that had been acting as a psychological marker in recent sessions. The Nasdaq 100 futures gain of 0.45% came alongside, suggesting the move was part of a wider risk-on shift rather than a crypto-only story. The two markets don't always move together, but on Monday they were reading from the same page.
The fact that Bitcoin held above $65,000 after the initial push is notable. It suggests buyers were willing to defend the level, at least for now. Whether that holds depends on how the Iran-Oman situation develops.
Waiting on Tehran and Muscat
The key question is whether the reports harden into a signed deal. If talks stall, the strait stays closed and the supply fears return. If a deal lands, the relief rally could have more room to run. For now, traders are watching for any official word from Tehran or Muscat.
