Bitcoin Dips Below $64K as Oil Prices Surge and Iran Tensions Rise

Bitcoin's price fell to around $63,900 as crude oil prices surged nearly 5% due to Iran rejecting direct U.S. talks and setting conditions for reopening the Strait of Hormuz.

This geopolitical tension pushed investors towards safer assets like the U.S. dollar, pressuring cryptocurrencies and stocks.

Strategy sold 1,690 BTC worth $108.6 million last week and also offloaded MSTR shares to boost cash reserves.

Despite the dip, U.S. spot Bitcoin ETFs attracted $865 million in inflows, with market watchers awaiting upcoming U.S. inflation data for clues on Federal Reserve policy that could impact Bitcoin's near-term trend.