Bitcoin Surges Amid U.S. Plans to Reopen Strait of Hormuz

Bitcoin jumped 2% during Monday's Asia trading session, reaching an intraday high of $74,309, as news broke that President Trump is working to build a multinational coalition aimed at reopening the Strait of Hormuz. Reports also indicated that the U.S. is considering a ground operation to seize Iran's Kharg Island, which processes over 90% of the country's crude oil exports.

According to Axios, the potential Kharg Island seizure hinges on whether oil tankers remain trapped in the Persian Gulf. While no country has officially joined the proposed Hormuz Coalition, Trump is expected to announce participating nations within the week.

Crypto markets interpreted the coalition effort as a signal of possible de-escalation in the region. BTC climbed from approximately $72,785 before touching its session peak of $74,309, though it later pulled back to around $73,563 after encountering resistance at the $74,051 level.

Bitcoin has demonstrated resilience throughout the ongoing geopolitical conflict, which began February 28. The leading cryptocurrency has consistently formed higher lows following each major war-related headline, accumulating an 11% gain from its opening-day low near $64,000. This pattern reflects growing investor confidence in Bitcoin as a macro hedge during periods of global uncertainty.

The $73,000 to $74,000 price zone remains a critical resistance range for BTC. A confirmed commitment from coalition partners could serve as the technical and sentiment catalyst needed to push Bitcoin above this level and trigger a broader breakout. Traders and analysts are watching diplomatic developments closely, as any credible de-escalation news may accelerate buying momentum in the crypto market.

Until a breakout is confirmed, Bitcoin remains in a consolidation phase, with geopolitical headlines continuing to drive short-term price swings.