Bitcoin has risen above $64,600 after U.S. President Donald Trump said Washington is not holding talks with Iran, while conflicting claims over the Strait of Hormuz kept oil above $91 per barrel.
Summary
- Bitcoin traded at $64,611 after moving between $64,005 and $64,926 during the session.
- Trump said no U.S.-Iran talks are underway or scheduled as the conflict enters its sixth month.
- Iran maintained that the Strait of Hormuz will remain closed until Washington meets its interim commitments.
- Strategy reported no Bitcoin purchases or sales last week after selling BTC for two consecutive weeks.
In an Aug. 18 Truth Social post, Trump said the United States and Iran were not holding discussions and had no negotiations scheduled, contradicting recent reports that diplomatic contacts could produce another temporary agreement.
“The Naval Blockade remains in full force and effect. The Hormuz Strait is open and operating,” Trump wrote.
The president also said all water mines in the strait had been removed or detonated. Iran disputed his account, with chief negotiator Mohammad Baqer Qalibaf saying Tehran would keep the waterway closed until the United States fulfilled conditions contained in a June interim agreement, according to Reuters.
According to Iran’s chief negotiator, Mohammad Baqer Qalibaf, Tehran’s conditions include lifting the U.S. blockade of Iranian ports, removing oil sanctions, releasing frozen Iranian assets, and ending U.S. military threats and operations. The memorandum, signed on June 17, established a 60-day period for negotiations toward a broader agreement that would include Iran’s nuclear program.
Its negotiating window has now expired without an extension.
Trump says Hormuz is open as Iran rejects the claim
Trump’s account of normal operations in the Strait of Hormuz remains at odds with shipping activity and statements from Tehran.
Although some vessels continue to pass through the route, Reuters reported limited traffic and a recent incident in which a ship was struck by an unidentified projectile. Data cited by Fox News showed 28 confirmed crossings from Friday through Sunday, compared with an average of about 130 ships per day before the war began in February.
Iranian officials have said passage will remain restricted until Washington honors the June agreement. Trump, however, said on Aug. 17 that Iran wanted a deal but would not accept the terms he considered necessary.
The dispute followed an earlier Truth Social post in which Trump shared a map labeling the strait as “New U.S. Territory.” Iran rejected the territorial claim, while Trump maintained that U.S. naval forces controlled the passage.
U.S. and Israeli forces launched attacks on Iran in late February, starting a conflict that is approaching its sixth month. According to Reuters, Tehran adopted what one senior official described as a “fully offensive” position on Aug. 17 after diplomacy failed to produce another agreement.
No new major Iranian attack had been reported immediately after the statement.
The Strait of Hormuz carried roughly one-fifth of global oil and liquefied natural gas supplies before the conflict. Any sustained restriction therefore affects crude availability, shipping costs, and energy prices paid by American households and businesses.
Bitcoin price recovers while oil stays above $91
Bitcoin (BTC) was trading at $64,611 at the time of writing, up about 0.6% from its previous close. The cryptocurrency had moved between an intraday low of $64,005 and a high of $64,926, placing the psychological $65,000 level within reach.
The advance came even as oil prices increased for a third consecutive session. Reuters reported that Brent crude rose 0.7% to $91.46 per barrel, while U.S. West Texas Intermediate gained 0.9% to $85.25.
Earlier in August, Bitcoin faced downside pressure when attacks on tankers near Hormuz lifted energy prices and strengthened demand for the U.S. dollar. BTC fell as low as $62,466 on July 31 after failing to hold above $65,000, while its four-hour chart placed the $62,000–$63,000 area at the center of the market’s next move.
The current recovery has brought Bitcoin back toward the same resistance region. A sustained break above $65,000 has not yet occurred, with Tuesday’s high stopping at $64,926.
For U.S. investors, the oil move matters because higher fuel and transport costs can feed into inflation data. Federal Reserve officials consider inflation when deciding interest rates, while elevated borrowing costs can reduce investor demand for assets such as Bitcoin and technology stocks.
U.S. equities remained under pressure during Tuesday’s session. The Nasdaq Composite fell about 1.4%, the S&P 500 lost 0.6%, and the Dow Jones Industrial Average slipped 0.1%, according to The Wall Street Journal. The publication also reported that the 10-year Treasury yield reached 4.72%, while the 30-year yield climbed to 5.33%, its highest level since 2007.
Strategy pauses Bitcoin sales after two weeks
Bitcoin also received relief from the absence of another sale by Strategy, the largest publicly traded corporate holder of the asset.
According to an Aug. 17 filing with the U.S. Securities and Exchange Commission, Strategy made no Bitcoin purchases or sales between Aug. 10 and Aug. 16. Its holdings remained unchanged at 840,447 BTC, acquired for an aggregate $63.36 billion at an average price of $75,385 per coin.
As crypto.news reported on Monday, the company raised $333.7 million by selling 3.46 million common shares during the week but did not use the proceeds to acquire more Bitcoin.
Strategy’s filing ended two consecutive weeks of BTC disposals. During the previous week, the company sold 1,690 BTC for about $108.6 million after selling roughly $105 million of Bitcoin one week earlier.
Because Strategy trades on the Nasdaq under the MSTR ticker, its Bitcoin decisions affect U.S. shareholders who use the stock as an indirect form of crypto exposure. The company’s latest filing also showed that its average Bitcoin purchase price remained above BTC’s current market value.
Strategy used its recent financing activity to increase its U.S. dollar reserves and repurchase preferred shares. Its Aug. 17 filing said the company bought back about $132.2 million of STRC preferred stock during the week.
White House meeting puts U.S. crypto rules in focus
Washington’s digital-asset policy calendar has supplied another point of interest for Bitcoin traders.
A White House meeting scheduled for Aug. 19 is expected to include representatives from Coinbase, Ripple, a16z, Chainlink, Paradigm, Kalshi, and the Digital Chamber. SEC Chair Paul Atkins and CFTC Chair Michael Selig are also expected to participate, according to people familiar with the plans.
The administration had not published a formal agenda or confirmed the final participant list at the time of reporting. Trump’s attendance had also not been officially announced, although Semafor reported that he was expected to take part.
The White House gathering comes as the Digital Asset Market CLARITY Act remains stalled in the Senate. The legislation would divide federal oversight of digital assets between the SEC and CFTC, placing qualifying digital commodity spot markets under the CFTC while keeping crypto securities within the SEC’s authority.
The House passed its version in July 2025 by a 294–134 vote. Senate progress has slowed over disagreements involving government ethics, decentralized finance, stablecoin rewards, and financial crime controls.
Polymarket traders placed the bill’s chance of becoming law in 2026 at about 20% on Aug. 17, down from more than 80% earlier in the year. Separately, the platform’s odds of at least one Federal Reserve rate increase in 2026 fell to 49% from a recent level above 60%.
Earlier in August, rate-hike odds reached 64% after Federal Reserve Bank of Minneapolis President Neel Kashkari warned that inflation remained too high. The Federal Reserve held its target range at 3.50%–3.75% in July, when three officials supported a quarter-point increase.
