Bitcoin Climbs 6% While Iran Floats 7-Day Hormuz Reopening

Iran said it could reopen the Strait of Hormuz within seven days if Washington eases military pressure, sending oil lower as Bitcoin (BTC) rose with nearly $999 million in ETF inflows.

Key Points:

• Iran linked a possible reopening of the Strait of Hormuz within a week to initial US steps easing military pressure and port restrictions.
• Brent crude fell to a two-week low below $100 as traders weighed the proposal and improving Gulf supply conditions.
• Bitcoin held above $85,000 after a sharp rebound, while US spot Bitcoin ETFs drew nearly $999 million in net inflows.

Iran Hormuz Proposal

A senior Iranian official said Tehran was ready to reopen the Strait of Hormuz within a week if the United States reduced military pressure and lifted its blockade on Iranian ports. The official said the proposal had been relayed through mediators, while Iran’s delegation in New York had authority to pursue negotiations.

Iranian President Masoud Pezeshkian traveled to New York for the United Nations General Assembly, while Foreign Minister Abbas Araghchi had arrived earlier and Donald Trump said he was open to talks, though no meeting was scheduled.

Oil markets reacted quickly to the diplomatic signal. Reuters reported Brent crude for November fell 2.1% to $98.23 a barrel, a two-week low, while US crude contracts also declined as traders assessed the chance of additional Gulf supply.