Bitcoin Consolidates Near $85K as Iran's Hormuz Dispute Rattles Markets

The Bitcoin price is consolidating near $85,000 and may break through to $90,000 if it resolves upward. The cryptocurrency has been trading around this level for five weeks, with the latest weekly wick reaching $87,000.

An upside break would strengthen the bull flag case for $90,000, provided former resistance becomes support. Repeated rejection would weaken that scenario and keep attention on the lower boundary of the consolidation.

The Coinbase Premium Index is recovering, suggesting renewed US demand, but this reading requires confirmation from wider trading activity. Stronger readings can indicate increased buying pressure on Coinbase, but a temporary premium can fade without producing a sustained advance across exchanges.