Key Takeaways
- Bitcoin retreated to approximately $63,900, weighed down by crude oil prices climbing nearly 5%
- Iran dismissed prospects for direct U.S. negotiations and outlined demands for fully reopening the Strait of Hormuz
- Strategy liquidated 1,690 BTC totaling $108.6 million during the August 3–9 period
- U.S. spot Bitcoin ETFs attracted $865.3 million in net capital last week
- Market participants are focused on upcoming CPI and PPI releases for Federal Reserve policy signals
Bitcoin retreated to approximately $63,900 during Monday’s trading session, erasing weekend momentum as escalating crude oil prices dampened investor appetite for risk assets worldwide.
Crude oil surged almost 5% following Iran’s rejection of direct negotiations with Washington and its announcement that the Strait of Hormuz would only fully reopen under specific conditions. This development prompted investors to rotate into safe-haven instruments like the U.S. dollar, applying downward pressure on both cryptocurrency and equity markets.
Ali Nikzad, Iran’s deputy parliamentary speaker, declared that resolving the Strait situation “has no military solution.” U.S. West Texas Intermediate crude rallied to approximately $80.90 per barrel during the session.
The BTC/USD pair touched an intraday low of $64,447 on Bitstamp before stabilizing around $63,900, marking its weakest position since last Friday.
Market analyst Daan Crypto Trades identified $64,000 as a pivotal threshold for Bitcoin. He observed that this level converges with the 4-hour 200-period moving average, monthly volume-weighted average price, and weekly 200-period moving average — creating a significant technical confluence. He cautioned that a sustained close beneath $64K might shift short-term momentum into bearish territory.
$BTC Big level here on the day.
Lots of confluence with a lot of levels that would determine where the momentum is headed in the short to mid term.
.382 Fib Retracement level from August move
— Daan Crypto Trades (@DaanCrypto) August 10, 2026
Strategy Continues Bitcoin Liquidation
Strategy divested 1,690 BTC for approximately $108.6 million during the August 3 through August 9 window, achieving an average sale price of $64,262 per token. The transaction was revealed in a Monday SEC filing.
The firm currently maintains 840,447 BTC in its treasury, worth roughly $54.7 billion at current valuations. Strategy’s average acquisition cost across its entire portfolio stands at $75,385 per coin, indicating the company remains underwater on its holdings.
Strategy increased its USD Reserve by $650M and repurchased $109M of $STRC. This increased USD Duration by 143 days to 2.7 yrs and tightened STRC’s BTC Credit by 10 bps. As of 8/9/26, we hold ₿840,447 in our BTC Reserve and $4.65B in our USD Reserve. $MSTR…
— Michael Saylor (@saylor) August 10, 2026
Strategy additionally sold 6,585,682 MSTR shares throughout last week, generating $653.1 million in proceeds. The capital was allocated toward repurchasing preferred equity and increasing its cash position to $4.65 billion as of August 9.
Institutional ETF Demand Persists
Notwithstanding the price decline, institutional interest remained robust. U.S. spot Bitcoin ETFs registered $865.3 million in net capital inflows throughout the previous week, per Farside Investors data.
Glassnode observed that spot taker buying activity has intensified, though characterized the rebound as “tentative.” The analytics firm highlighted that exchange turnover volumes remain subdued, suggesting consolidation patterns rather than widespread speculative engagement.
Ki Young Ju, CEO of CryptoQuant, pointed out that hedge funds have shifted to net long positions in CME BTC futures contracts — an uncommon positioning. He commented: “The suits are betting on upside.”
Market participants are now closely monitoring Wednesday’s U.S. Consumer Price Index release and Thursday’s Producer Price Index report for insights into potential Federal Reserve rate adjustments in September. Elevated interest rates generally create headwinds for speculative assets including Bitcoin.
The post Bitcoin (BTC) Retreats to $63,900 Amid Oil Rally and Middle East Geopolitical Concerns appeared first on Blockonomi.
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