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- Bitcoin approached new local highs with the start of the week\u2019s first US trading session.<\/li>\n
- Stocks also opened higher amid relief over a hiatus in the US-Iran war and potential progress on reopening the Strait of Hormuz.<\/li>\n
- BTC price action defended two daily moving averages on Sunday\u2019s weekly close.<\/li>\n<\/ul>\n
Bitcoin follows stocks higher as Iran news offers risk-asset tailwind<\/h2>\n
Data from TradingView showed BTC\/USD spiking to near $66,000 as markets reacted to a pause in strikes between the US and Iran.\u00a0<\/p>\n
![\"\"](\"https:\/\/s3-images.ctmedia.io\/media\/content\/btcusd2026-07-2717-24-22.png\")
<\/p>\nBTC\/USD one-hour chart. Source: Cointelegraph\/<\/em>TradingView<\/em><\/a><\/p>\n
Additional reports cited an Iranian foreign ministry spokesman announcing that Tehran and Oman were \u201ctrying to establish mechanisms regarding maritime traffic\u201d through the Strait of Hormuz, a key global oil route currently closed.<\/p>\n
US WTI crude oil fell toward $82 per barrel on Monday before a modest rebound. The S&P 500 and Nasdaq Composite Index were both up by around 0.3% at the time of writing.<\/p>\n
![\"\"](\"https:\/\/s3-images.ctmedia.io\/media\/content\/usoil2026-07-2717-22-12.png\")
<\/p>\nCFDs on US WTI crude oil one-hour chart. Source: Cointelegraph\/TradingView<\/em><\/p>\n
Acknowledging a potential stumbling block in the form of higher US bond yields<\/a>, trading company QCP Capital voiced that they were anticipating tailwinds for the crypto market going forward.\u00a0<\/p>\n
\u201cDigital assets have generally outperformed equities in July despite a more challenging macro backdrop,\u201d the firm wrote in its latest Market Color<\/a> analysis.\u00a0<\/p>\n
\u201cBTC and ETH are up approximately 11.6% and 24.6% month-to-date, respectively, even as higher Treasury yields and periodic risk-off sentiment have weighed on broader markets.\u201d<\/p><\/blockquote>\n
QCP referenced developments around the CLARITY Act, a key piece of proposed crypto legislation<\/a> still under consideration.<\/p>\n
\u201cMarket attention also remains on developments surrounding the proposed CLARITY Act, which continues to be closely followed by digital asset participants given its potential implications for the US regulatory framework,\u201d it continued.<\/p>\n
BTC price support holds but remains fragile<\/h2>\n
Among Bitcoin traders, caution mixed with quiet optimism over BTC price action on shorter time frames.<\/p>\n
Related: <\/strong><\/em>Rate path still divides investors: Five things to know in Bitcoin this week<\/strong><\/em><\/a><\/p>\n
Crypto trader and analyst Micha\u00ebl Van de Poppe highlighted that BTC was holding the 21-day and 50-day simple moving averages (SMAs) as support. These stood at $64,289 and $63,261, respectively.<\/p>\n
\u201cThis is a strong signal for the markets to be betting on the long side of this asset, however, it\u2019s still a little fragile,\u201d he wrote in ongoing updates<\/a> on X.\u00a0<\/p>\n
\u201cI\u2019d much prefer to see a strong move to $66,000-67,000 over the next 1-3 days to see a continuous bid coming in.\u201d<\/p><\/blockquote>\n
![\"\"](\"https:\/\/s3-images.ctmedia.io\/media\/content\/hootfrgxeaakpip.png\")
<\/p>\nBTC\/USDT one-day chart. Source: Micha\u00ebl Van de Poppe on X.com<\/em><\/p>\n
![\"\"](\"https:\/\/s3-images.ctmedia.io\/media\/content\/screenshot-2026-07-27-172714.png\")
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