Iran said it could reopen the Strait of Hormuz within seven days if Washington eases military pressure, sending oil lower as Bitcoin (BTC) rose with nearly $999 million in ETF inflows.
Key Points:
- Iran linked a possible reopening of the Strait of Hormuz within a week to initial US steps easing military pressure and port restrictions.
- Brent crude fell to a two-week low below $100 as traders weighed the proposal and improving Gulf supply conditions.
- Bitcoin held above $85,000 after a sharp rebound, while US spot Bitcoin ETFs drew nearly $999 million in net inflows.
Iran Hormuz Proposal
A senior Iranian official said Tehran was ready to reopen the Strait of Hormuz within a week if the United States reduced military pressure and lifted its blockade on Iranian ports. The official said the proposal had been relayed through mediators, while Iran’s delegation in New York had authority to pursue negotiations.
Iranian President Masoud Pezeshkian traveled to New York for the United Nations General Assembly, while Foreign Minister Abbas Araghchi had arrived earlier and Donald Trump said he was open to talks, though no meeting was scheduled.
Oil markets reacted quickly to the diplomatic signal. Reuters reported Brent crude for November fell 2.1% to $98.23 a barrel, a two-week low, while US crude contracts also declined as traders assessed the chance of additional Gulf supply.
The Strait of Hormuz remains one of the world’s most important energy routes, and Saudi Arabia’s restart of its East-West Pipeline added another factor easing concerns about regional supply.
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Bitcoin Market Reaction
Bitcoin gained about 6% over 24 hours in the market snapshot and touched a high near $87,329, extending a broader rebound across crypto markets. Trading activity also increased as investors responded to softer oil prices and signs that geopolitical pressure could ease.
US spot Bitcoin ETFs recorded $998.95 million in net inflows on Monday, their largest daily inflow since Oct. 6, 2025, with BlackRock’s IBIT leading at $381.37 million, followed by Ark’s ARKB and Fidelity’s FBTC.
KCM Trade chief market analyst Tim Waterer said oil would likely remain sensitive to headlines until diplomacy produced either clear progress or another setback. That uncertainty matters for crypto because sharp changes in energy prices can influence inflation expectations, interest-rate outlooks and broader risk appetite.
Bitcoin’s latest move extends a September rebound that had lifted the asset about 12% for the month and back above $85,000 by Tuesday. The recovery followed several sharp swings earlier in the month, leaving crypto exposed to renewed changes in oil prices, rates and geopolitical headlines.
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