Trump signaled that a deal on the Strait of Hormuz could be finalized by Wednesday, August 6, which would represent the most significant de-escalation in the crisis that has rattled global energy markets since Iran imposed a blockade in February 2026. Iran has blocked this strategic passage since February 28, 2026, handling a massive share of global oil transit, and Treasury Secretary Scott Bessent suggested negotiations could conclude as early as August 5. In response to positive signals from the June agreement, Bitcoin rallied above $65,000 but currently trades between $62,000 and $63,000 as markets await the outcome. Oil supply disruptions directly influence inflation expectations, which impact Federal Reserve policy and liquidity conditions, the single most important variable for Bitcoin’s medium-term price trajectory.
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