Bitcoin ($BTC) surged 2% to a session high of $74,309 at the Monday Asia open after reports emerged that President Trump is assembling a multinational coalition to reopen the Strait of Hormuz and weighing a ground seizure of Iran’s Kharg Island.
Axios reported that the Kharg Island operation remains contingent on whether tankers stay bottled up in the Persian Gulf. The island handles over 90% of Iran’s crude exports. No country has publicly committed to the Hormuz Coalition yet, though Trump expects announcements this week.
Markets read the coalition effort as a potential de-escalation signal. $BTC climbed from $72,785 to $74,309 before pulling back to $73,563 as the key $74,051 resistance held firm.
Bitcoin has formed higher lows after every major war headline since the conflict began on February 28, rising 11% from its $64,000 opening-day low. The $73,000 to $74,000 resistance zone remains the breakout level to watch. A confirmed coalition commitment could be the catalyst that finally clears it.
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