Bitcoin Price Outlook as Oil Surges to $85 After Trump Reinstates Blockade on Iranian Ports

1 hrs ago

By Muthoni Mary

Market Analyst

Muthoni Mary is a seasoned crypto market analyst and writer with over three years of experience decoding blockchain trends, price movements, and market dynamics. She holds a Bachelor’s Degree in Commerce (Finance) from Kenyatta University, blending a solid academic foundation with a sharp eye for technical analysis and a deep understanding of on-chain data. Her work delivers clear, data-driven insights that empower investors to navigate the fast-evolving digital asset space with confidence. When she’s not analyzing the markets, Mary enjoys reading and travelling.

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CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

Bitcoin Price Prediction as Trump Reinstates Iran Naval Blockade

Bitcoin Defies Escalating US-Iran Tensions as Oil Prices Rise

The price of Brent Crude oil has risen to $85 today, July 15, after the US reimposed a blockade on Iranian ports near the Strait of Hormuz.

President Trump has also said the US will strike power plants and bridges in Iran if the country does not resume negotiation talks to end the war.

Trump’s threat comes shortly after the US closed the Strait of Hormuz and reintroduced a 20% fee for cargo ships passing through the Strait.

Iran is also pushing back, with the IRGC launching strikes on Middle East countries like Kuwait, Bahrain, and Jordan.

Still, Bitcoin price remains unmoved by these tensions, and on July 14, it created its biggest green candle since June 7. BTC also moved above $65,000 on July 14 for the first time since June 22.

The gains occurred after the US inflation rate dropped to 3.5%, and the odds of the Fed raising interest rates on July 28 dropped to 14%.

Bitcoin Price Hits 3-Week High Amid Shifting Momentum

The price of Bitcoin reached $65,000 for the first time since June 22 after buyers returned due to cooling US inflation.

The RSI reading of 54 also supports a bullish long-term Bitcoin price forecast because it suggests that the momentum has shifted to favor bulls.

If this RSI keeps making higher highs, the price of BTC could close above the psychological resistance of $65,000.

Bitcoin closing above the psychological price of $65,000 for three straight days could lead to another upward move to the 100-day EMA of $68,500.

But if the buying pressure that was caused by cooling inflation eases and short-traders sell to book profits, BTC could drop to the support at the 20-day EMA of $63,200.

Bitcoin Price Reclaims $65,000 as Momentum Shifts — BTC/USDT: 1-day Chart (Source: TradingView)

Analyst Daan Crypto also warns that BTC could move below $60,000 if it breaks the support at $61,300. However, if Bitcoin moves above $64,644, the analyst notes that the price could reclaim $67,000.

BTC ETFs Post $181M Inflows Amid Rising Demand For Longs

Bitcoin’s recent gain to $65,000 attracted demand from institutions because inflows to BTC ETFs reached $181 million on July 14.

BlackRock’s IBIT ETF had the highest inflows of $138 million, followed by Fidelity with $21 million in inflows.

The ETF inflows coincide with a rising demand for Bitcoin long positions. The top traders on Hyperliquid now hold the highest number of long positions since September 2025, per Glassnode data.

Bitcoin Price Outlook as Demand For Long Positions Surges — Bitcoin Long/Short Positions (Source: Glassnode)

Glassnode also notes that these traders are more bullish on Bitcoin at the current price of $64,000 than they were when the price reached $83,000 in May 2026.

This long positioning suggests that these traders expect the price of bitcoin to keep rising despite the conflict between the US and Iran.

Investment disclaimer: The content reflects the author's personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.

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Frequently Asked Questions (FAQs)

1. Why is Bitcoin price rising today despite US-Iran tensions?

Bitcoin price is rising today after cooling US inflation fuelled demand for risk assets.

2. How high can BTC price go in the near-term?

BTC price could reach $68,000 in the near term if there is sustained buying pressure.

3. Can Bitcoin drop below $60,000?

Bitcoin could move below $60,000 if it loses support at the consolidation range low of $61,400,

Why Trust CoinGape

CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.