Bitcoin (BTC) Price: Falls to $63,900 as Oil Surge and Iran Tensions Weigh on Markets

TLDR

• Bitcoin dropped to around $63,900, pressured by a near 5% surge in oil prices
• Iran ruled out direct talks with the U.S. and set conditions for reopening the Strait of Hormuz
• Strategy sold 1,690 BTC worth $108.6 million between August 3–9
• US spot Bitcoin ETFs recorded $865.3 million in net inflows last week
• Traders are watching CPI and PPI data this week for Fed rate clues

Bitcoin slipped to around $63,900 on Monday, reversing weekend gains as rising oil prices hit risk appetite across global markets.

Oil jumped nearly 5% after Iran ruled out direct talks with the U.S. and said the Strait of Hormuz would only fully reopen if Washington met specific conditions. That sent traders toward safe-haven assets like the dollar, pulling crypto and stocks lower.

Iran’s deputy speaker Ali Nikzad stated the Strait’s opening “has no military solution.” U.S. WTI crude climbed to around $80.90 per barrel on the day.

BTC/USD hit a low of $64,447 on Bitstamp before the updated price settled near $63,900, its weakest level since Friday.

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