Bitcoin fell below $64,500 on Monday’s Wall Street open, wiping out weekend gains as markets digested uncertainty over the reopening of the Strait of Hormuz. US WTI crude oil surged nearly 5% to $80.90 per barrel after Iran said there was no military solution to the closure of this strategic oil route. The Japanese yen continued weakening against the dollar, with USD/JPY hitting 159 near the psychological boundary of 160. Despite exceptionally strong institutional inflows into US spot Bitcoin ETFs, which recorded $865.3 million in net inflows last week, analysts warned the Bitcoin recovery remains tentative.
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