Bitcoin price has climbed to about $64,847, breaking above $64,500 as traders assess renewed U.S.-Iran tensions after President Donald Trump said no negotiations with Tehran are underway or scheduled. The move extends BTC’s recovery from the low-$63,000 area even as risks around the Strait of Hormuz remain elevated.
Trump wrote that “no talks or conversations are going on, or scheduled” with Iran. He also said the U.S. naval blockade remains in force and described the Strait of Hormuz as open and operating after mines were cleared. His comments follow the end of a 60-day negotiating window linked to the June interim arrangement.
Bitcoin Price Rises as Trump Rejects Iran Talks
Trump’s statement contrasts with comments from Jared Kushner, who has said communication with Iran continues even though Tehran has not shown enough willingness to reach a deal acceptable to Washington. Kushner has described U.S.-Iran contacts as active while also saying an agreement should not be rushed.
Qatar, which has helped mediate between the two sides, says an agreement between Iran and Oman over navigation through the Strait of Hormuz could make it easier to restart U.S.-Iran negotiations. Iran and Oman have been discussing future shipping arrangements, although no final deal has been announced.
Iran has taken a different position on the waterway. Iranian officials say the strait will remain restricted until Washington addresses Tehran’s demands involving the naval blockade, sanctions, and other terms tied to the June arrangement.
Security concerns also remain active. A commercial vessel was struck by an “unknown projectile” while transiting the Strait of Hormuz on Tuesday, damaging its engine room and causing a crew casualty. The UAE also issued a missile-threat warning before later saying the immediate situation was safe.
BTC Buyer Activity Remains Weak Despite Price Recovery
Bitcoin’s move above $64,000 comes while aggressive buying activity remains subdued. The 30-day average of taker buy volume on Binance has fallen toward $3.3 billion, returning to an area previously seen during the late-2020 reset, the 2022 market bottom, and the 2023 consolidation period.
The divergence between price and buying activity remains notable. BTC is trading near $64,800, yet aggressive market-buying volume has dropped to levels recorded when Bitcoin traded much lower. Taker Buy Volume measures orders from traders willing to buy immediately at available market prices.
Source: Cryptoquant
Lower taker activity can point to weaker demand, but the reading alone does not confirm a market bottom. A recovery in taker buy volume while Bitcoin maintains higher prices would provide clearer evidence that buyers are returning.
Bitcoin Funding Rates Reach 20-Month High
Derivatives positioning is moving in a different direction. Bitcoin funding rates have climbed to their highest levels in about 20 months after briefly turning negative between February and May 2026.
Positive funding means leveraged long traders are paying short traders, indicating that long positions currently dominate perpetual futures markets. Higher funding reflects bullish positioning, although persistently elevated rates can also increase the cost of maintaining leveraged long positions.
Source: Cryptoquant
Bitcoin now faces a test of whether the latest move above $64,000 can hold while spot participation remains weak and geopolitical conditions remain unsettled.
The next external trigger could come from the Strait of Hormuz. Qatar says an Iran-Oman navigation agreement could reopen a path toward U.S.-Iran negotiations, but Washington and Tehran have not scheduled new talks.
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