Bitcoin stabilized near $64,000 over the weekend, recovering part of Friday’s slide as traders weighed the start of US-Iran ceasefire talks against Iran’s renewed threat to close the Strait of Hormuz. CoinDesk data showed BTC trading around $64,200 on Sunday, up 0.9% over 24 hours and little changed for the week after falling below $63,000 on Friday.
Most major tokens moved higher alongside bitcoin. Ether added 0.5% on the day and was up 3.3% for the week at $1,734. Solana rose 1.5% to $73, while Tron gained 1.2%. Hyperliquid’s HYPE fell 2% over the day but still led weekly performance with a 14.8% advance. Dogecoin was the weakest major token, down 4.9% over the past seven days.
Bitcoin Ends the Week With Little Net Movement
On a weekly basis, bitcoin has effectively gone nowhere. The token rallied earlier after the Iran deal was signed, then sold off in Friday’s broader risk-off move before settling over the weekend. That pattern has kept crypto in the same place it has occupied for much of the month: range-bound, reactive, and waiting for developments outside the market itself.
Swiss Talks Open Under Fresh Pressure on Hormuz
Attention has shifted to Switzerland, where US and Iranian officials are due to begin talks on a permanent ceasefire, according to Bloomberg. Vice President JD Vance is expected to take part. The negotiations follow the memorandum of understanding signed last week by President Donald Trump, which created a 60-day window that can be extended.
The setting is less stable than that framework suggests. Iran has renewed its order to close the Strait of Hormuz, the shipping chokepoint whose reopening under the deal helped push oil prices down about 9% last week and supported risk assets. Tehran is sending negotiators to Switzerland while again threatening to shut the strait, leaving markets with the same uncertainty the earlier agreement was meant to reduce.
Crypto Still Tracks the Broader Geopolitical Risk Picture
The immediate market read is straightforward. A real closure of Hormuz would likely send oil higher and weigh on risk assets, including bitcoin. A lasting ceasefire would remove part of that pressure. For now, price action suggests traders are waiting for the talks to produce something concrete rather than committing to a directional move in advance.