Bitcoin Network Activity Surges Amid Geopolitical Tensions

The Bitcoin price hovered above $63,000 as investors weighed good network numbers against fresh geopolitical jitters. The optimism was short-lived, however, after Iran denied reports of a U.S.-Iran framework agreement that included reopening the Strait of Hormuz.

Institutional demand remained steady, with U.S. spot Bitcoin ETFs pulling in $233 million in net inflows. BlackRock's iShares Bitcoin Trust (IBIT) accounted for about 79% of this total, at $183 million.

On the network side, new blockchain data showed Bitcoin hit an all-time high in monthly transactions, indicating growing adoption beyond price movements. Fees remained near historic lows, suggesting improved network efficiency and steady demand for Bitcoin transfers.