Bitcoin tags $65K as S&P 500 rebounds from 2-week lows on US-Iran rhetoric

Bitcoin (BTC) hit $65,000 after Tuesday’s Wall Street open as US stocks rebounded in spite of geopolitical pressure.

Key points:

• Bitcoin reaches $65,000 for the first time since Aug. 10 as risk assets navigate fresh US-Iran signals.
• Analysis warns of surging US 30-year bond yields, which hit 29-year highs of 5.34%.
• BTC price analysis flags decision time on a head-and-shoulders bottoming structure.

Bitcoin diverges from US stocks as Trump says Strait of Hormuz “open”

Data from TradingView showed BTC/USD building on the week’s gains as the S&P 500 bounced from 7,696, its lowest level since Aug. 4.

BTC/USD four-hour chart. Source: Cointelegraph/TradingView

This came after US president Donald Trump posted a map of the closed Strait of Hormuz oil route to Truth Social where it was labeled “new US territory.”

Both the US and Iran lay claim to control of Hormuz, with Trump threatening US ally Oman with military action over its plans to work with Iran on charging tolls to shipping traffic. In a subsequent post, Trump confirmed that further diplomacy with Iran was not on the agenda.

“There are no talks or conversations going on, or scheduled, with the Islamic Republic of Iran. The Naval Blockade remains in full force and effect. The Hormuz Strait is open and operating. All water mines have been removed or detonated,” he wrote.