Bitcoin coils at $64K as Hormuz reopening timeline sends S&P 500 to $70T record

CryptoInfo Editorial Team · Published on August 04, 2026 at 16:38 · Updated on August 04, 2026 · 1 min read

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Key Takeaways

→Bitcoin has stabilized at around $64,000
→The S&P 500 index has reached a record high with a market cap of $70 trillion
→The surge in the S&P 500 is attributed to hopes of the Strait of Hormuz reopening to oil traffic

Disclaimer: This content is provided for informational purposes only and does not constitute financial or investment advice.

Bitcoin has stabilized at around $64,000, according to reports from CoinTelegraph. This comes as the S&P 500 index has reached a record high, achieving a market cap of $70 trillion. The surge in the S&P 500 is attributed to hopes of the Strait of Hormuz reopening to oil traffic.

The reopening of the Strait of Hormuz is expected to have significant implications for global oil trade. The S&P 500's record high is seen as a reflection of the positive sentiment in the market, driven by this potential development.

Source: CoinTelegraph ↗

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