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Hormuz Hopes Fizzle, Bitcoin Price Slips Below $64k

Guavy AI Editorial Team Published August 11, 2026

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BTC

Bitcoin price slipped to $64,221.3 on Tuesday as hopes for a US-Iran deal to reopen the Strait of Hormuz faltered.

The cryptocurrency fell 0.6% after briefly breaking below $64,000.

This decline comes amidst worsening risk appetite and Strategy Inc's latest Bitcoin sale.

Strategy disclosed it had sold 1,690 Bitcoins for a total of $109 million on Monday, with the proceeds used to repurchase preferred stock.

This marks Strategy's fifth sale of its Bitcoin holdings this year, aimed at reducing debt and dividend commitments.

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