Bitcoin price surged back above $64,000 on Wednesday, reversing a dip to the $62,200–$62,500 area earlier in the week. The cryptocurrency added over $2,000 as markets reacted to reports of a potential interim agreement between the United States, Iran, and Oman to reopen the strategically vital Strait of Hormuz. BTC traded near $64,300–$64,440 during the session, leaving the $65,000 resistance within reach.
According to an Axios report, citing two regional sources, the deal would set separate lanes for inbound and outbound ship traffic—inbound vessels would use Iran’s northern lane while outbound traffic would pass through the Omani-controlled southern lane. No tolls or fees would be charged for a 60-day period, despite Iran previously demanding up to $2 million per ship, possibly payable in Bitcoin. Naval mines would be cleared from a median lane, which could later serve a permanent arrangement between Oman and Iran.
Separately, Qatar’s Foreign Ministry spokesperson Majed Al-Ansari confirmed that mediators—including Qatar, Pakistan, and Oman—were exchanging draft proposals aimed at restarting negotiations and preventing further military escalation. Al-Ansari stressed that no final agreement or timetable was confirmed, keeping the diplomatic situation fluid. Iran denied direct talks with the U.S., saying discussions were only with Oman over shipping access.
The easing of geopolitical tension pushed oil prices lower, with Brent crude extending its decline as fears of supply disruptions receded. Bitcoin’s recovery coincided with this risk-on shift, though the asset also contended with immediate resistance at $64,000 and $65,000. On the downside, $63,500 serves as near-term support, followed by $62,500. Traders now watch whether buyers can convert the rebound into a sustained breakout above $65,000 while awaiting more concrete progress in the Hormuz negotiations.
