Bitcoin held a modest 2% daily gain on Monday as oil stayed above $100 per barrel, with traders watching whether the $65,000 level would give way amid fresh geopolitical pressure from the Iran conflict.
Trump’s Hormuz ultimatum rattles markets
U.S. President Donald Trump posted on Truth Social demanding that the Strait of Hormuz be “immediately ‘Open for Business’.
He followed that with threats of renewed strikes on Iranian energy infrastructure, keeping details sparse.
Iran responded by suggesting markets treat pre-open news as a “reverse indicator.”
Trading resource The Kobeissi Letter weighed in on X:
“We are in the most unusual times in market history.”
U.S. stocks struggled to make gains as the week opened, while oil preserved the $100 mark.
Bitcoin outperforms gold and equities
Despite the macro turbulence, trading firm QCP Capital noted that bitcoin was holding up better than most traditional assets.
In its latest Market Color update, QCP wrote:
“BTC has outperformed both gold and major equities since the Iran conflict began, even as traditional markets have struggled under geopolitical pressure.”
QCP called it “notable” that the $65,000–$70,000 range was holding, pointing to relative strength in bitcoin versus other risk assets during the conflict.
The bitcoin fear and greed index and on-chain metrics have been closely watched as traders assess whether the current dip represents a buying opportunity or the start of a deeper move lower.
Traders eye $65K as entry zone
Crypto trader Michaël Van de Poppe described the lower end of bitcoin’s range as an accumulation opportunity, telling his X followers:
“On the other hand, a classic little sweep to $65K just before the push upwards would signal that we’re going to get that momentum. Clearly, the lower end of the range is the entry zone. Also, clearly, over a longer timeframe, this is a very cheap opportunity to accumulate more Bitcoin.”
Van de Poppe added that a breakout above $71,000 would be needed for confirmation of any bullish reversal.
