Breaking: Bitcoin Rises as Qatar Confirms Iran-Oman Talks Reach “Advanced” Stage

Bitcoin jumped on Tuesday as Qatar confirmed that negotiations between Iran and Oman over management of the Strait of Hormuz have reached an “advanced” stage. Oil prices sharply dropped more than 2% on hopes of Strait of Hormuz reopening and de-escalation in the US-Iran war.

Iran-Oman Talks on Strait of Hormuz’s Control Reach Advanced Stage

Qatar’s Foreign Ministry spokesperson Majed al-Ansari stated on August 11 that the talks between Oman and Iran on shipping traffic through the Strait of Hormuz have reached an advanced phase.

He said “We have heard positive feedback from both countries.” Qatar will continue to support efforts to ensure free navigation and de-escalation in the Middle East. “As mediators, we want the Strait of Hormuz reopened as soon as possible,” Qatar’s Foreign Ministry spokesperson added.

The Iran-Oman talks focus on safe shipping routes, navigation arrangements, and other related issues. Iran earlier described progress as constructive, but claimed full reopening will depend upon de-escalation by the US.

Officials from Qatar, Oman, and Pakistan are working hand in hand, passing draft proposals and ideas between the US and Iran to end the war. If completed, a final deal would formalize safe transit routes and reopen the blockades that kept Bitcoin and other risk assets under pressure.

Pakistan Interior Minister Arrives in Iran

Pakistan’s Interior Minister Syed Mohsin Naqvi has landed in Iran for talks with Iranian officials. He will seek efforts to revive talks between Iran and the US, after the latest attempt failed.

Meanwhile, Pakistan’s defense minister said the US-Iran signals point toward a potential arrangement, with developments “shaking up in favor of peace.”

PAKISTAN SEES US-IRAN DEAL GETTING CLOSER

Pakistan’s defense minister says US-Iran signals point toward a potential arrangement, with developments “shaking up in favour of peace.”

Meanwhile, Pakistan’s interior minister has arrived in Tehran for talks, adding to diplomatic…

— *Walter Bloomberg (@DeItaone) August 11, 2026

The US-Iran talks stalled, with President Donald Trump demanding compensation from Iran. Iran is also demanding compensation for damage caused by the war.

When asked about an estimated date of reopening the Strait of Hormuz, Trump said “It’s open now… We control the Strait 100%!”

Bitcoin Climbs as Oil Prices Fall

Oil prices climbed over the past 24 hours amid stalled US-Iran peace talks and potential war escalation in the Middle East. Uncertainty on reopening the strait also led to oil prices hitting over $84.5 today.

However, Qatar and Pakistan’s comments on de-escalation and progress in deals caused oil price to fall back below $82 per barrel now. As a result, US stock futures rebounded, with S&P 500 and Nasdaq futures showing modest gains.

Meanwhile, Bitcoin price also jumped 0.80% within hours as oil prices dropped sharply. The price is currently trading near $64,300, with a 24-hour low and high of $63,752 and $65,172, respectively.

Bitcoin trading volume has increased by 42% over the last 24 hours, indicating traders remain interested. This comes as White House Crypto Advisor Patrick Witt said the Trump admin remains “fully committed” to pass Clarity Act in September.

Polymarket data revealed prediction market participants remain skeptical of the Clarity Act turning into law this year, with 22% Yes and 78% No.