Trump denied that after the United States was holding or arranging talks with Iran, the market continued to absorb the energy risks posed by the situation in the Strait of Hormuz. Oil prices remain high, and bitcoin returns to $64,600 above and re-engages to $65,000.
Holmuz still disagrees.
Trump stated on 17 August that mines in the Strait had been cleared or detonated and that the channel was open. The Iranian side, however, denied this claim and stated that passage through the Strait would remain restricted until the United States fulfilled the terms of the June interim agreement.
Reuters reports that, while ships continue to pass through the Strait of Hormuz, traffic is significantly below pre-war levels. According to the data quoted by Fox News, only 28 crossings were confirmed on Friday to Sunday, while the average daily traffic was about 130 before the conflict began in February.
The Straits of Hormuz bore about one fifth of the global transportation of crude oil and liquefied natural gas prior to the conflict. If restrictions persist, crude oil supply, shipping costs and final energy prices will continue to be under pressure.
Bitcoin is up to $64,600.
As at the time of the submission, the Bitcoin report was $64611 and ranged from $6405 to $64926, an increase of approximately 0.6 per cent over the closing date of the previous transaction. Prices have risen but have not yet stood at $65,000.
Meanwhile, international oil prices continue to rise. Reuters data show that Brent's crude oil rose by 0.7 per cent to $91.46 per barrel, while the United States WTI crude oil rose by 0.9 per cent to $85.25 per barrel, the third consecutive trading day.
The market had previously felt similar pressures. At the end of July, the attack on the tanker near Hormuz pushed up energy prices and boosted the dollar, and Bitcoin fell to $62466. The current rebound means that the price is back near the previously blocked area.
Strategy stopped selling the money. The White House meeting was in focus.
In addition to the geo-situation situation, the silo movement of enterprises has created a buffer for Bitcoin. According to documents submitted by Strategy to the United States SEC on 17 August, the company did not buy or sell bitcoin between 10 and 16 August and held a hold of 840447.
This means that Strategy suspended the two-week consecutive reduction. One week earlier, the company had sold 1690 bitcoin, with a cash balance of approximately $108.6 million; another week it had also sold about $105 million bitcoin.
The market is also following the White House digital assets conference scheduled for 19 August. It was reported that Coinbase, Ripple, a16z, Chainlink, Paradigm, Kalshi and Digital Chambers were expected to be represented and that the Chairman of SEC, Paul Atkins, and the Chairman of CFTC, Michael Selig, could also be present.
At the time of the conference, the United States Senate had still not advanced the Digital Asset Market Clarity Act. The bill proposes to divide the powers of control of digital assets between SEC and CFTC. Polymarket's August 17 data show that the probability of the Act becoming law in 2026 is about 20 per cent, with a significant fall in height over the year.
High oil prices can also affect inflation expectations and interest rates in the United States. On that day, the United States stock continued to be under pressure, with a decline of about 1.4 per cent in the index, 0.6 per cent in the benchmark 500 index and 4.72 per cent in the annual rate of return on United States debt. Against this background, the Bitcoin short-line rebound continues to face macro-environmental constraints.