Bitcoin steadies above $65,000 as Iran-Oman deal talk eases Hormuz concerns, lifts risk assets

MarketsBitcoin steadies above $65,000 as Iran-Oman deal talk eases Hormuz concerns, lifts risk assetsBTC rose to $65,209 and Nasdaq 100 index futures gained 0.45% on reports that Iran may strike a deal with Oman to reopen the Strait of Hormuz.By Oliver Knight, Omkar Godbole|Edited by Sheldon Reback14 min ago3 min readMake preferred on ShareShare this articleCopy linkX iconX (Twitter)LinkedInFacebookEmailMake preferred on SummaryShowBitcoin rose 0.54% to $65,209 and ether gained 0.86% to $1,925, tracking a 0.45% rise in Nasdaq 100 futures as reports emerged that Iran is prepared to strike a deal with Oman to reopen the Strait of Hormuz.The altcoin market is cautiously optimistic but not yet moving, with the altcoin season indicator sitting at 37/100 and capital still concentrated in bitcoin, suggesting meaningful rotation into smaller tokens is contingent on BTC breaking out of its current range.Pump.fun (PUMP) led the altcoin market with a 5.39% gain, while liquidations fell 32% to just $85 million, pointing to a market that is stabilizing rather than chasing momentum.The crypto market opened the week on a positive note, with bitcoin BTC$64,978.83 up 0.54% since midnight UTC at $65,209 and ether ETH$1,916.58 gaining 0.86% to $1,925 as sentiment stabilized following a turbulent July.The move was correlated with Nasdaq 100 index futures, which rose by 0.45% since midnight, buoyed by speculation from the Middle East that Iran is ready to strike a deal with Oman to open the Strait of Hormuz.The altcoin market is delicately poised, waiting to see if bitcoin can drive higher into the $68,000 to $72,000 range before benefiting from capital rotation.Derivatives positioningLong-short ratio flips bullish: The long-short ratio for taker volume in crypto futures has flipped bullish, with longs accounting for 52% of the flow. A taker is an entity that removes liquidity from the order book by trading at available prices. BTC OI growth remains elusive: Bitcoin futures market ac…

Bitcoin steadies above $65,000 as Iran-Oman deal talk eases Hormuz concerns, lifts risk assets

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