Bitcoin continued trading through the weekend while other major markets remained closed, as tensions in the Strait of Hormuz disrupted oil flows. The digital asset absorbed the initial market reaction to the geopolitical developments.
Bitcoin traded near $62,900 on Friday afternoon before recovering to around $63,900 early Saturday. It then held steady through the European morning. The asset remains down about 38 percent from its October 2025 peak.
The Strait of Hormuz normally carries 20.9 million barrels of oil per day. Disruptions have already lifted Brent crude above $85 a barrel. Oil futures, Treasuries and U.S. equities will stay shut until Monday, leaving Bitcoin as the main liquid market to price any new developments.
The United States reimposed a naval blockade on Iranian ports on July 12 after earlier strikes. Iran responded with missile attacks on regional infrastructure. Traders noted that thin weekend liquidity could amplify price swings from any further incidents or signs of de-escalation.
