Bitcoin rises above $64,000 on Hormuz reopening hopes

Bitcoin (BTC) traded above $64,000 on Wednesday, spurred by news that the southern shipping lane through the Strait of Hormuz has been declared open for commercial vessels. U.S. Central Command reported that more than a thousand ships have already used the route, and U.S. Treasury Secretary Scott Bessent signaled a possible formal agreement with Iran, mediated by Oman and Pakistan. The prospect of restored oil flows helped lower Brent crude prices and eased inflation concerns, which in turn lifted risk‑on assets such as Bitcoin.

At the same time, the cryptocurrency remains constrained by a key resistance level near $64,300. The price has been rejected at that point four consecutive times, while global equity markets continue to hit record highs. Analysts note the divergence suggests that institutional capital driving stock market optimism has not yet fully flowed into crypto, and a breakout would likely require additional catalysts such as a surge in spot‑ETF inflows.