Bitcoin breaks above $80,000 as crypto gains amid Strait of Hormuz tensions
Cryptocurrency markets are advancing at the start of the week as geopolitical tensions in the Middle East keep investors focused on broader risk sentiment. Bitcoin rises above $80,000 after gaining 2.6% over 24 hours, while Ether climbs 3.6% to $2,382 as of 11:40 p.m. ET Sunday.
Highlights
- Bitcoin surges to $80,150 after surpassing a key resistance, propelling bullish momentum and confirming renewed buyer strength, while XRP climbs 2% to $1.41.
- Spot bitcoin ETFs in the U.S. record a fifth straight week of inflows, totaling $153.87 million last week, signaling rising institutional participation.
- Crypto gains coincide with heightened U.S.–Iran tensions in the Strait of Hormuz, as Trump announces 'Project Freedom' and Iran warns against U.S. interference.
Market move and resistance breakout
The Block reports that bitcoin reaches $80,150 after breaking through a resistance zone that had constrained price action over the weekend. XRP also rises 2% to $1.41, adding to a broader upswing across major digital assets.Nick Ruck, director of LVRG Research, says bitcoin's move above $80,000 clears a major psychological level and shifts near-term momentum back into bullish territory. He says the breakout confirms buyer strength following the earlier pullback.
ETF inflows and geopolitical backdrop
Spot bitcoin exchange-traded funds in the U.S. post a fifth consecutive week of inflows, totaling $153.87 million last week, according to SoSoValue data. Ruck says the sustained inflows point to growing institutional support and confidence in bitcoin as a strategic portfolio asset.The gains come as tensions between the U.S. and Iran persist around the Strait of Hormuz. President Donald Trump says in a Truth Social post on Sunday that the U.S. will launch "Project Freedom" to guide stranded cargo ships, while senior Iranian official Ebrahim Azizi warns, according to CNN, that any U.S. interference in the waterway could violate the ceasefire.
In our earlier coverage of Bitcoin’s recovery from its February low, we noted that some analysts believe BTC could reclaim the $100,000 level without a new catalyst, as accumulation dynamics can support a move higher and the narrative may follow price action. The piece also highlighted that traders continue to watch U.S. macro and policy signals—especially Federal Reserve decisions, spot Bitcoin ETF inflows, and progress on the proposed CLARITY Act—as potential accelerants for the next leg up.
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