Iran Keeps Hormuz Shut as Bitcoin Eyes Possible $90K Breakout
- —Bitcoin has traded around $85,000 for five weeks, with a weekly high of $87,000
- —A breakout could open the path to $90,000, while a support break risks long liquidations
- —The Coinbase Premium Index is recovering, signaling renewed US demand
- —The Strait of Hormuz remains closed until the US meets seven conditions under the Islamabad memorandum
Why it matters: A prolonged closure threatens higher inflation and tighter Fed policy, pressuring risk assets including Bitcoin.
Source: Blockonomi