Bitcoin threatens $62K as Hormuz rhetoric sparks risk-asset rout
Bitcoin threatens $62,000 as a broader risk-asset rout hit markets Monday, with BTC slipping toward key support while US stocks opened lower. President Donald Trump told Fox the US may run the Strait of Hormuz after Iran closed the vital oil route, keeping geopolitical pressure on crypto and crude. The setup means bitcoin threatens 62k riskasset traders are watching closely, as Hormuz tensions added fuel to a pre–New York open selloff already marked by heavy short positioning.
Key Takeaways
- BTC/USD edged toward $62,000 as the Nasdaq fell about 1% at the Wall Street open on Monday.
- Donald Trump said the US would keep and "probably run" the Strait of Hormuz after Iran closed the key oil passage.
- Traders reported massive shorting into the drop, with WTI crude holding near $75 per barrel.
- Coinbase Ventures led crypto VC dealmaking in H1 2026 even as broader funding stayed weak.
Why is Bitcoin falling toward $62,000?
Bitcoin fell further into Monday's Wall Street open as markets reacted to the US-Iran escalation. Data from TradingView showed BTC/USD edging closer to $62,000 amid what one trader described as "massive" short trading.
US stocks were broadly in the red at the open, with the Nasdaq Composite Index down 1% at the time of reporting. Bitcoin saw pressure, with sellers firmly in control after an initial drop following the weekly close.
Analytics account JDK Analysis warned on X that price was sitting directly at the monthly volume-weighted average price (mVWAP), a level bulls need to defend. With spot also selling, the outlook still looked very weak, though a bounce could trap sellers if New York brings real spot demand.
What did Donald Trump say about the Strait of Hormuz?
Speaking to Fox on Monday, US President Donald Trump said the US would be taking over the Strait of Hormuz, a key international oil route that Iran closed at the weekend.
"We're going to keep the strait, and we'll probably run it. We'll become the guardian of the strait. Maybe we'll call it the 'guardian angel' of the strait. And we should be reimbursed for that," he said.
Oil prices stayed higher, with WTI crude circling $75 per barrel. The combination of energy-market stress and equity weakness dragged crypto alongside other risk assets. For ongoing market alerts, see our Fintech & Crypto Alerts coverage.
Could Bitcoin recover if Wall Street demand returns?
Not everyone sees only downside. Trader Roman retained a bullish bias, highlighting RSI and volume signals that pointed to downside exhaustion. "I believe a move higher is coming it all just comes down to formation and how we get there," he wrote on X.
JDK added that if mVWAP holds and spot buying returns, a bounce could squeeze aggressive shorts. Commentator Exitpump also reported a "crazy amount of aggressive shorting" while open interest continued to rise.
Broader crypto markets showed mixed signals elsewhere Monday. Cointelegraph noted Coinbase Ventures led crypto-focused venture investing in the first half of 2026 with 30 deals, even as total fundraising fell to $1.4 billion in June amid the bear market.