BTC and ETH rise modestly alongside Nasdaq 100 futures after reports of an Iran-Oman agreement to reopen the Strait of Hormuz.
Bitcoin climbed 0.54% to $65,209 and ether gained 0.86% to $1,925, mirroring a 0.45% rise in Nasdaq 100 futures. The gains followed reports that Iran may strike a deal with Oman to reopen the Strait of Hormuz, easing geopolitical tensions and lifting broader risk sentiment.
The crypto market showed cautious optimism, though altcoins remained subdued. The altcoin season indicator stood at 37/100, with capital still concentrated in bitcoin. Pump.fun led altcoin gains with a 5.39% rise, while liquidations dropped 32% to $85 million, signaling stabilization rather than momentum-driven trading.
Derivatives positioning turned bullish, with longs accounting for 52% of taker volume in crypto futures. Analysts noted that a breakout above $68,000 could trigger capital rotation into smaller tokens, but the market remains range-bound for now.