Bitcoin (BTC) Price: Climbs Above $64K as Traders Await Iran-Oman Shipping Deal

TLDR

• Bitcoin traded near $64,270 on Aug. 5, up less than 1%, while stocks hit records and oil fell.
• Traders are watching for a possible U.S., Iran, and Oman shipping deal that could ease oil prices further.
• Analyst Ali Martinez says a close above $64,300 could confirm a breakout toward $65,500 or $66,500.
• U.S. spot Bitcoin ETFs took in $19.6 million on Aug. 4, following heavier outflows days earlier.
• BitMEX co-founder Arthur Hayes warned of an AI debt bubble but says the fallout could push Bitcoin past $1 million later on.

Bitcoin traded near $64,270 on Aug. 5. That marked a gain of less than 1% for the day.

The move came even as stock markets hit records. Oil prices also dropped, but Bitcoin barely reacted.

The coin has stayed roughly flat over the past week. It remains about 49% below its October 2025 high of over $126,000.

Other coins showed mixed results. Ether and XRP lost ground, while BNB and Hyperliquid’s HYPE token gained.

Stock markets moved much more than crypto did. The S&P 500 and Dow both closed at record highs.

Asian markets also rallied on strong AI earnings news. Japan’s Nikkei rose 3.5%, and South Korea’s benchmark gained 4.3%.

Bitcoin Price on CoinGecko

Oil Talks and ETF Flows Shape the Picture

Brent crude fell toward $78.85 a barrel. Traders are watching for a possible deal between the U.S., Iran, and Oman.

Axios reported the three sides are nearing a temporary deal to reopen the Strait of Hormuz. An announcement was expected as early as Wednesday.

President Trump said a deal could come Wednesday or Thursday. No agreement had been signed as of this report.

Lower oil prices and falling bond yields would normally help Bitcoin. Cheaper oil can ease inflation, and lower yields often make Bitcoin look more attractive to investors.

Bitcoin’s muted reaction suggests demand for crypto stays soft. U.S. spot Bitcoin ETFs added $19.6 million on Aug. 4, according to Farside Investors.

That followed a rougher stretch. ETFs saw about $265 million in outflows just three days earlier.

Strategy also sold 1,638 BTC for roughly $105 million. The company still holds 842,138 BTC after the sale.

Chart Levels and a Longer-Term Bitcoin Call

Analyst Ali Martinez said Bitcoin needs to close above $64,300 on the four-hour chart. He said that level “could confirm the breakout” toward $65,500 or $66,500.

Martinez’s targets depend on that close happening. They are not guaranteed outcomes.

The daily chart shows Bitcoin near the middle of its Bollinger Bands, around $64,404. Resistance sits near $66,285, while support is closer to $62,524.

BitMEX co-founder Arthur Hayes offered a longer view. He compared the debt behind the AI infrastructure boom to the 2008 credit crisis.

Hayes said Big Tech companies are treating data center spending like real estate debt rather than growth investment. He expects a slowdown in AI spending to expose weaker borrowers.

He predicted Bitcoin could trade between $60,000 and $70,000, with a possible dip to $50,000. Hayes said a government response to any credit crisis could later send Bitcoin above $1 million.

Reuters reported that Microsoft, Meta, Oracle, Amazon, and Alphabet have committed about $1.09 trillion to future data center leases. That figure is nearly four times their currently recognized lease liabilities.

Oracle’s debt load stood out most. Its debt-to-earnings ratio was 4.3 times, while the other four companies stayed below one.

Traders are now watching whether a confirmed Hormuz deal can push Bitcoin above $64,300 and through resistance near $66,000.

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