Bitcoin slipped to approximately $63,900 on Monday, reversing weekend gains as a surge in oil prices weighed on risk appetite across global markets.

Oil jumped nearly 5% after Iran ruled out direct talks with the United States and stated that the Strait of Hormuz would only fully reopen if Washington met specific conditions. The Strait of Hormuz is one of the world's most critical energy chokepoints, with roughly a fifth of global oil consumption passing through it daily, making any disruption there a flashpoint for commodity and financial markets alike. The escalation drove traders toward safe-haven assets such as the U.S. dollar, pulling cryptocurrencies and equities lower. Iran's deputy speaker Ali Nikzad stated that the Strait's opening "has no military solution." U.S. WTI crude climbed to roughly $80.90 per barrel on the day.

BTC/USD hit a low of $64,447 on Bitstamp before settling near $63,900 — its weakest level since Friday.

Analyst Daan Crypto Trades identified $64,000 as a critical level for Bitcoin, noting that it aligns with the 4H 200MA, Monthly VWAP, and Weekly 200MA, forming a key confluence zone. He cautioned that a close below $64,000 could hand bears control of short-term price action.

$BTC Big level here on the day. Lots of confluence with a lot of levels that would determine where the momentum is headed in the short to mid term.

🔸.382 Fib Retracement level from August move 🔸4H 200MA & EMA 🔸Monthly VWAP 🔸Highest volume area from past weeks 🔸Weekly 200MA… pic.twitter.com/oNNORX3G52

— Daan Crypto Trades (@DaanCrypto) August 10, 2026

Strategy Sells 1,690 BTC

Strategy sold 1,690 BTC for approximately $108.6 million between August 3 and August 9, at an average price of $64,262 per coin, according to an SEC filing disclosed on Monday.

The company now holds 840,447 BTC, valued at roughly $54.7 billion. Strategy's average purchase price across all holdings stands at $75,385 per coin, placing the company in a position of unrealized losses at current market prices. Strategy, formerly known as MicroStrategy, is the largest publicly traded corporate holder of Bitcoin, and its Treasury operations are closely watched as a barometer of institutional sentiment toward digital assets.

Executive Chairman Michael Saylor confirmed the moves on social media:

Strategy increased its USD Reserve by $650M and repurchased $109M of $STRC. This increased USD Duration by 143 days to 2.7 yrs and tightened STRC's BTC Credit by 10 bps. As of 8/9/26, we hold ₿840,447 in our BTC Reserve and $4.65B in our USD Reserve. $MSTR …

— Michael Saylor (@saylor) August 10, 2026

Strategy also sold 6,585,682 shares of MSTR stock last week, raising $653.1 million. The proceeds were used to repurchase preferred shares and boost its cash reserve to $4.65 billion as of August 9.

ETF Inflows Remain Strong

Despite the price decline, institutional demand held firm. U.S. spot Bitcoin ETFs recorded $865.3 million in net inflows last week, according to Farside Investors.

Glassnode noted that spot taker buying has accelerated but characterized the recovery as "tentative." The on-chain analytics firm reported that exchange turnover remains low, suggesting consolidation rather than broad speculative activity.

CryptoQuant CEO Ki Young Ju highlighted that hedge funds have flipped net long on CME BTC futures — a rare positioning shift. The CME is the primary U.S. venue for regulated Bitcoin futures and options, and its positioning is widely tracked as a proxy for institutional derivatives exposure. He remarked: "The suits are betting on upside."

Traders Eye Economic Data

Market participants are now focused on U.S. CPI data scheduled for release on Wednesday and PPI figures on Thursday, seeking clues about whether the Federal Reserve will adjust rates at its September meeting. Higher interest rates typically apply downward pressure on speculative assets, including Bitcoin. Conversely, a sustained oil-price shock can complicate the Fed's inflation calculus, as energy costs feed directly into consumer prices, potentially constraining the central bank's flexibility to cut rates.