0
Bitcoin saw new August highs into Tuesday’s Wall Street open as markets bet on US-Iran tensions again easing.
Key points:
- Bitcoin (BTC) edges higher as optimism over the Strait of Hormuz reopening pushes stocks to new all-time highs.
- Oil prices drop to their lowest levels since July 13 with oil traffic potentially returning on Wednesday.
- BTC acts between two daily moving averages as analysis sees “strong accumulation.”
S&P 500 tops $70 trillion market cap to new high
Data from TradingView showed BTC/USD climbing to $64,176 on Bitstamp, marking maximum daily gains of around 1%.
BTC/USD one-hour chart. Source: Cointelegraph/TradingView
Oil prices reacted immediately after US Treasury Secretary Scott Bessent suggested that traffic through the Strait of Hormuz could restart as soon as Wednesday.
Bessent told CNBC that there was “a chance we may have a deal today or tomorrow to open the Strait and move towards a more normalized…
