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Crypto

Hormuz Deal Hopes Keep Bitcoin Prices in Check

Guavy AI Editorial Team
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BTC
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Bitcoin remained relatively stable at $64,216.1 on Thursday, as investors kept a close eye on geopolitical developments and awaited news of a potential deal to reopen the Strait of Hormuz.

The crypto market has been sluggish since the onset of the US-Israel war on Iran in late-February, with Bitcoin trading nearly 50% off its October record high.

Investors are also monitoring capital inflows into spot Bitcoin exchange-traded funds (ETFs), which saw $626.0 million in inflows so far in August, a significant increase from the $172.4 million seen in July.

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