Trump’s demand for 50-year Iranian compensation reversed Hormuz optimism, pushing Brent crude to $89.08 and leaving crypto markets flat ahead of CPI data.
Bitcoin traded below $65,000, down 1.68% over 24 hours, as geopolitical tensions in the Strait of Hormuz escalated. President Donald Trump’s demand for 50 years of compensation from Iran dashed hopes for a near-term resolution, lifting Brent crude to $89.08, a 12% increase from last week’s lows.
The crypto market showed little reaction, with Bitcoin at $64,193.70 and Ether at $1,884.81, down 2.4% on the day. U.S. equity futures remained flat as traders awaited Wednesday’s CPI report, now the week’s key catalyst. XRP futures open interest surged as the token threatened to drop below $1 for the first time since 2024.
Strategy’s sale of 1,690 BTC on Monday marked the fourth consecutive weekly reduction, adding to downward pressure on digital assets.