Now Reading: Bitcoin opens higher as Hormuz talks and weak US jobs data lift risk appetite
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Bitcoin opens higher as Hormuz talks and weak US jobs data lift risk appetite
Bitcoin opens higher as Hormuz talks and weak US jobs data lift risk appetite
Bitcoin opened 0.9% higher at $64,602.32 on Thursday, while Ethereum rose 2.1% to $1,906.96, as investors returned to riskier assets. By 9:40 a.m. ET, they had eased to $64,216.91 and $1,901.84 respectively,…
The Story in Brief
Bitcoin opened 0.9% higher at $64,602.32 on Thursday, while Ethereum rose 2.1% to $1,906.96, as investors returned to riskier assets. By 9:40 a.m. ET, they had eased to $64,216.91 and $1,901.84 respectively, according to Yahoo Finance, cited by Hindustan Times. Negotiations linked to Iran and the Strait of Hormuz helped calm concerns about energy supplies. Weaker-than-expected US private-sector jobs data for July also reduced expectations of another Federal Reserve rate increase.
The recovery remains fragile. Bitcoin is about 43.4% below its level a year earlier and roughly half its 2025 record of $126,198.07. Ethereum is also below half its $4,953.73 peak. Hindustan Times reports that Bitcoin has historically fallen about 4.3% in August, although it rose during the bull markets of 2020 and 2021. Future moves will depend on geopolitical developments and US economic data.
The Indian Opinion
The easy story is that any rise in Bitcoin marks a new rally, while the opposing claim is that crypto has lost all momentum. Neither fits the numbers. Bitcoin remains far below its peak, and Thursday’s move was modest. Hormuz negotiations and US jobs data can change quickly, so August performance should be judged against sustained prices, not one opening session. A close above $65,000 would offer a clearer test.
Source: hindustantimes.com
This story was synthesised by AI from the source linked above.
