Bitcoin don bounce back as peace between US and Iran open Hormuz Strait again
US and Iran don reach one preliminary peace deal wey include ceasefire and reopening of the Strait of Hormuz. Di news first affect crude oil as Brent slide more than 4% to about $83, and risk sentiment change sharp sharp.
Bitcoin sharply climb pass $65,500 to two-week high after e smallly dip to about $63,722. For the past 24 hours, Bitcoin don rise around 2.4% and don recover about 9% compared to last week wey e fall below $60,000.
Broader crypto follow the risk-on move: Ethereum gain about 2.7% to ~$1,720, Solana rise ~4.7% to ~$71.31, and XRP climb over 3% to ~$1.18. Hyperliquid’s HYPE jump ~9.2% to above $65, while BNB and Dogecoin each add over 1%.
But traders dem warn make dem no assume say the move na full trend reversal. The article point to earlier drawdowns wey oil/interest-rate expectations high and capital comot from risk assets cause. E still flag possible overhangs like corporate BTC sales (Strategy dey sell BTC for preferred dividends) and ongoing outflows tied to spot Bitcoin ETFs.
Main thing to watch: whether institutional flows go return to extend the Bitcoin rebound, or whether this ‘peace deal’ rally go fade after expectations don already price in.
Bullish
Dis bullish for short term because di main tinwek say say because di main catalyst don improve risk sentiment: di ceasefire between US and Iran plus di Strait of Hormuz reopen make Brent sharply drop, wey dey usually reduce di macro worry about 'oil + rates'. Bitcoin follow quick—e break pass $65,500 after e drop near $63,722—and di rally spread to ETH, SOL, XRP and high-beta tokens like HYPE, consistent with market-wide risk-on move.
But di article still talk say some bearish fundamentals never settle wey fit cap di upside. Earlier BTC weakness tie to higher oil prices wey reinforce expectation say rates go remain high, and di same mechanism fit come back if macro conditions change. Plus, spot Bitcoin ETF outflows and corporate BTC supply (Strategy selling BTC) fit weaken follow-through once traders rotate out of the 'event trade.' Similar pattern before: quick rallies after geopolitical relief often fade when liquidity and institutional flows no dey expand.
Long-term, traders suppose dey watch whether ETF/institutional flows stabilize and whether market still dey treat BTC as risk asset with steady inflows. If flows remain weak, di current move fit change from momentum to consolidation; if inflows return, di breakout fit continue.