The price of bitcoin rose above $75,000 on Monday evening, marking a significant rebound for the asset.
This move comes after several weeks of consolidation and follows signs of easing tensions around the Strait of Hormuz, one of the world's most important oil shipping routes. The region has been a source of geopolitical tension in recent times, but the current situation appears to be stabilizing.
Meanwhile, institutional interest in bitcoin is growing, with corporate demand continuing to expand. Strategy, led by Michael Saylor, recently purchased 22,337 additional bitcoin for approximately $1.57 billion, increasing its total holdings to 761,068 BTC. Tokyo-listed investment firm Metaplanet has also secured funding to accelerate its bitcoin treasury strategy.
Despite the rally, market participants remain cautious about declaring a full breakout. Traders are watching whether bitcoin can maintain support above the $75,000 region and potentially push towards $80,000, which previously acted as a key support zone before the early-2026 correction.