TLDR
- Bitcoin traded near $63,800, down just 0.3% over 24 hours despite fresh U.S. airstrikes on Iran
- The U.S. launched its third round of strikes on Iran this week; Tehran declared the Strait of Hormuz closed
- U.S. spot Bitcoin ETFs pulled in $197.4 million last week, ending an eight-week outflow streak
- Spot Ether ETFs also returned to inflows, collecting $84.4 million for the week
- Analyst Michaël van de Poppe says breaking $65,000 would confirm a bullish reversal toward $73,000–$83,000+
Bitcoin is holding its ground near $63,800 even as geopolitical tensions in the Middle East escalate. The U.S. carried out its third round of airstrikes on Iran this week, and Tehran responded by declaring the Strait of Hormuz closed “until further notice.”
Despite that, Bitcoin moved just 0.3% lower over 24 hours. It was up 2% on the week overall.
U.S. Central Command said President Trump ordered the strikes after Iranian forces hit a Cyprus-flagged container ship. Explosions were reported along Iran’s southern coast, including energy hubs at Bushehr and Asalouyeh and port cities Bandar Abbas and Bandar-e Dayyer.
⚡️UPDATE: US SAYS “IRAN MADE A POOR CHOICE. NOW THEY PAY”
Defense Secretary Pete Hegseth posted on X after US forces struck roughly 140 Iranian military sites in response to the Hormuz ship attack that set a commercial vessel ablaze.
Iran retaliated with missiles and drones… https://t.co/R5ryEmDzS7
— Coin Bureau (@coinbureau) July 12, 2026
Vessel-tracking data showed some traffic near the Strait of Hormuz on Sunday morning, though movement stayed well below normal levels.
Ether was also calm, trading around $1,800, up 2% on the week. Solana was the weakest major, down 5% over seven days at $76. XRP slipped to $1.09 and Dogecoin eased to around $0.07.
When Iran first closed the Strait in early March, Brent crude jumped past $100 a barrel and Bitcoin sold off sharply. This time, the reaction has been muted. Oil, equities, and bonds are closed for the weekend, leaving Bitcoin as the only large market open to price in the news.
ETFs Return to Inflows After Eight Weeks of Losses
U.S. spot Bitcoin ETFs recorded approximately $197.4 million in net inflows last week — their first positive week since early May. That ended an eight-week outflow streak, the longest since the funds launched in January 2024.
Bitcoin ETFs just bought $197 million worth of BTC this week. This marks the first green week after 2 months of relentless selling. pic.twitter.com/SzCa1sgV5e
— Ash Crypto (@AshCrypto) July 12, 2026
The eight losing weeks had drained around $8.26 billion from Bitcoin ETF products. Last week’s inflow recovered only about 2.4% of that.
BlackRock’s iShares Bitcoin Trust (IBIT) led the way, pulling in $86.83 million on Friday alone. Most other funds reported zero net flows for the session.
Spot Ether ETFs also snapped their own eight-week losing streak, bringing in $84.4 million for the week. BlackRock’s ETHA and Fidelity’s FETH drove most of Friday’s $18.43 million session total.
Analyst Eyes $65,000 Breakout as Key Level
Crypto analyst Michaël van de Poppe pointed to a bullish divergence on Bitcoin as one of the strongest signals the market could be near a reversal. He stated that breaking $65,000 would confirm the setup, turning that resistance into support. Van de Poppe set a first target at $73,000 and said he personally expected a move toward $83,000 or higher in the coming period.
The bullish divergence on #Bitcoin is one of the strongest signals that the markets are about to reverse.
The reason that we’re not seeing much more momentum is the fact that Bitcoin hasn’t been breaking into its range.
Breaking $65,000 for #Bitcoin would seal the deal.
If… pic.twitter.com/u8OJuWu1UA
— Michaël van de Poppe (@CryptoMichNL) July 11, 2026
Bitcoin ETF net assets stood at $77.42 billion on Friday. Both Bitcoin and Ether ETFs remain in negative territory for 2026 overall, with Bitcoin ETFs down roughly $5.34 billion in net outflows year-to-date.
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