Bitcoin Holds Above $65,000 as Hormuz Relief Supports Risk Assets

Bitcoin opened the week firmer, rising 0.54% since midnight UTC to $65,209, while ether gained 0.86% to $1,925, according to CoinDesk. The move came as Nasdaq 100 futures also advanced 0.45% following reports that Iran may be prepared to reach a deal with Oman to reopen the Strait of Hormuz.

The development mattered because concerns around the Strait of Hormuz had weighed on risk appetite, and easing tension appeared to support both traditional risk assets and crypto. For digital asset markets, the reaction suggested bitcoin was again trading in line with broader macro sentiment rather than moving on crypto-specific news alone.

Still, the rally was measured. CoinDesk reported that the altcoin market remained cautious, with CoinMarketCap’s altcoin season indicator at 37 out of 100, down from 51 the previous week. Market attention remained concentrated on whether bitcoin could move toward the $68,000 to $72,000 range before capital rotates more meaningfully into smaller tokens.

Derivatives data also pointed to a steadier market rather than aggressive momentum chasing. Longs accounted for 52% of taker volume in crypto futures, while bitcoin open interest slipped back below 750,000 BTC. Funding rates and 24-hour open interest-adjusted cumulative volume delta were positive, indicating that the limited activity still leaned bullish.

Among individual tokens, Pump.fun’s PUMP led the altcoin market with a 5.39% gain since midnight UTC, while Ethena’s ENA rose 4.84% and NEAR added 3.79%. Liquidations fell 32% to $85 million, reinforcing the view that markets were stabilizing after a volatile July rather than entering a broad speculative surge.