Bitcoin nears $65K as Trump says Hormuz ‘open to all’

Bitcoin approached $65,000 on Sunday after President Donald Trump wrote on Truth Social: “The Deal is scheduled to get signed tomorrow, and immediately after it is signed, the Hormuz Strait is OPEN TO ALL.” Exchange data showed local highs near $64,750 before prices settled around $64,000 into the weekly close.

Market participants flagged a drop in selling pressure after the announcement. Short-term trading feeds showed Bitcoin stabilizing following recent highs, and order-book analysis placed a notable volume point of control above the current spot price.

Trader SuperBro posted on X that the 200-week simple moving average was holding as support and summarized short-term price action as “In a word, constructive.” The trader identified the $65,000–$67,000 band as a key test and added that a move above it would weaken bearish scenarios.

Trading account Cryptic Trades highlighted rising open interest alongside falling funding rates on derivatives markets. The account posted “It’s finally happening” and described the pattern as many participants adding short positions rather than opening new longs, a setup that can produce rapid short squeezes.

Liquidation heatmaps showed the recent highs aligning with a wide band of potential short liquidations. That concentration of vulnerable short positions sits near the $65,000–$67,000 area identified by traders.

Some market observers have noted that the 200-week moving average has not always held as reliable support in past bear markets. Traders will watch higher-volume price zones and derivatives metrics to determine whether the current rebound is sustained or reverses.

The Strait of Hormuz is a strategic shipping route for global oil and the security of that passage affects energy and financial markets. News of a U.S.-Iran agreement and related geopolitical developments can influence risk sentiment across asset classes, including cryptocurrencies.