Hormuz Hope, Pump Juice: $BTC Pops Past $65K as Tehran and Muscat Talk Shipping 🛢️

Bitcoin climbed back above $65,000 on Monday after Iran's Foreign Ministry spokesperson Esmaeil Baghaei said negotiations with Oman on managing traffic through the Strait of Hormuz had been "fruitful," driving an 8% drop in oil prices and a rebound in US stock futures. Baghaei described the rounds of talks with Muscat as productive progress on securing safe shipping through the critical waterway, even as a spokesperson separately dismissed reports of any direct ceasefire negotiations with the United States.

The price move came amid reports that US President Donald Trump is open to renewed peace talks, and followed a pause in strikes between the US and Iran for the first time in nearly two weeks of escalating conflict. Despite the de-escalation, traffic through the Strait of Hormuz remained low, underscoring that operational flows have not yet normalized even as diplomatic language has warmed.

The risk-on rotation lifted broader markets alongside crypto, with US equity futures reversing prior weakness as crude's slide eased inflation concerns for traders. Bitcoin's move back over the $65,000 level marked a sharp recovery for $BTC, which had been pressured in recent sessions by the oil-driven inflation narrative tied to the Middle East flare-up.

Iran's foreign ministry framed the Oman channel as a working track on the practical question of Hormuz navigation rather than a broader political settlement, and Baghaei's "fruitful" characterization was the most explicit confirmation yet that the two sides had advanced beyond preliminary discussions. Oman has historically served as a backchannel mediator between Tehran and Western governments, and the talks were held in that capacity.

With no confirmed date for the next round and traffic still throttled, the diplomatic progress offered markets a headline-level reprieve rather than a structural resolution to the corridor's disruption.