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Hormuz Strait reopening hopes lift S&P 500 to record high, bitcoin stays rangebound

Bitcoin regained the $64,000 level and extended modest gains as oil prices tumbled and risk appetite improved on hopes of easing U.S.-Iran tensions and a possible deal to reopen the Strait of Hormuz. U.S. stocks rose, with the S&P 500 hitting a record high. Bitcoin’s advance was capped near its 21-day moving average, though on-chain data showed accumulation. Markets are watching the Hormuz talks and how lower oil may affect September Fed rate expectations.

Crypto

Bitcoin could signal bottom if August closes above $63,000

Bitcoin could confirm a bearish-market bottom if it ends August with a monthly close above $63,000, according to an analysis cited by Cointelegraph. 10x Research said holding that level could signal a technical reversal and said some of its cycle indicators could turn bullish. It expects the Federal Reserve to keep rates unchanged but warned higher U.S. 10-year yields could raise the chance of a September hike. It also flagged selling pressure from miners.

Crypto

Dogecoin spot net inflows jump 116 percent in August, can rebound signal hold

Dogecoin’s spot net inflow rose 116.32 percent over the past 24 hours, as inflows reached $30.83 million and outflows $30.27 million, data showed. The price has yet to show a clear rebound after a late-July correction, and the token closed July 31 down 1.42 percent. Analysts said investors may enter a new volatility regime as rate expectations shift, while regulatory uncertainty and key U.S. data keep pressure on risk assets.