Bitcoin Rebounds to $64K as Gold Jumps, Oil Flat on Trump Oman Threat
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- Bitcoin returned to $64,000 after Monday's Wall Street open, gaining more than 2% on the day as it rebounded from Sunday's weekly close.
- Trump threatened Oman with military action in a Fox News interview over the Strait of Hormuz dispute, saying "If Oman gets in the way, we'll bomb the s* out of them," as a 60-day US-Iran ceasefire was set to expire.
- Oil markets shrugged off the rhetoric, with WTI crude flat at $82.35 per barrel, while safe-haven gold gained just over 1% to a daily high of $4,427 per ounce.
- Gold ETF inflows tracked nearly $12 billion over 30 days through Aug. 13, per Bytetree data, with Bank of America's Michael Hartnett calling long gold "best hedge against dollar debasement."
- Bitcoin funding rates hit 20-month highs of 0.022 on Aug. 14, per CryptoQuant, signaling a crowded long trade as 24-hour cross-crypto liquidations stayed muted at $180 million.
- US equities slipped, with the S&P 500 down 0.5% from Thursday's all-time highs as the US-Iran ceasefire deadline loomed.
- QCP Capital noted Bitcoin's ability to weather macro headwinds without breaking from its current range, framing the trade as range-bound rather than directional.
Why it matters: Trumps verbal escalation against a mediator (Oman) just as a US-Iran ceasefire lapsed failed to move oil but did push gold to a fresh daily high, revealing where capital is hedging. Bitcoin shrugged off both the threat and the equity sell-off, with 20-month-high funding rates showing traders are increasingly betting on upside — but that crowded positioning now amplifies the risk of a sharp unwind if $61,000 breaks.
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