Bitcoin climbed to $65,209 on Monday as reports of possible Iran-Oman discussions to reopen the Strait of Hormuz helped lift sentiment across risk markets. Nasdaq 100 futures also advanced 0.45%.

The wider crypto market opened the week higher. BTC gained 0.54% from midnight UTC to $65,209, while Ether rose 0.86% to around $1,925. The gains came after a volatile July in which crypto prices experienced several sharp moves.

Bitcoin’s performance broadly mirrored U.S. equity futures. Nasdaq 100 futures rose 0.45% as reports suggested Iran could reach an arrangement with Oman to restore traffic through the Strait of Hormuz, easing concerns over potential disruption to global trade.

Altcoins remain on standby. Traders are looking for Bitcoin to break toward the $68,000-$72,000 range, which could provide the momentum needed for capital to rotate into other major cryptocurrencies.

Derivatives Market Signals

Long positioning edges higher:
The long-short ratio for taker activity in crypto futures has turned positive, with longs representing 52% of total flow. Takers are participants who execute trades against liquidity already available in the order book.

Bitcoin futures remain subdued:
BTC futures open interest has fallen below 750,000 BTC as traders remain cautious around the $65,000 level. Expectations for additional Fed rate increases have also weakened.

Despite the decline in overall activity, funding rates remain positive and 24-hour open-interest-adjusted CVD is also above zero. Both measures indicate that current futures positioning continues to favor longs.

Ether futures see continued deleveraging:
ETH open interest has dropped to 13.35 million tokens, its lowest level since May 3 and well below the 15.98 million peak reached in late May.

Solana futures regain momentum:
SOL futures open interest has climbed to 64.60 million tokens from around 60 million recently. The rebound in derivatives activity has accompanied SOL’s recovery from nearly $70 to above $76.

Solana has also moved above the Ichimoku cloud, a technical development that could point to a short-term bullish shift.

Monero sees strongest derivatives growth:
XMR jumped 5% over 24 hours and briefly traded above $400. Futures open interest rose 6% alongside the price, indicating additional market participation.

Monero’s 24-hour CVD was the strongest among major crypto assets, showing aggressive buying through market orders. Its annualized funding rate reached 28%, the highest among major tokens, signaling strong demand for long exposure.

BVIV reaches 2026 low:
Bitcoin’s 30-day implied volatility gauge dropped to 35.59%, its lowest reading of the year. The decline points to expectations for quieter trading, although put options remain relatively expensive as investors continue to seek downside protection.

Bitcoin calls gain traction:
Options volume is increasingly concentrated in BTC calls at $68,000 and $70,000 strikes. Ether options are showing a comparable preference for upside exposure.

Altcoin Movers

Pump.fun was the strongest performer among notable altcoins, rising 5.39% from midnight UTC and pushing its market capitalization above $1.1 billion during its broader 24-hour advance.

Ethena climbed 4.84% to $0.0907, extending a recovery that has produced gains during most sessions over the past two weeks. However, ENA remains more than 90% below its all-time high.

NEAR Protocol gained 3.79% as AI-focused tokens broadly recovered, while FET advanced 2.10% after underperforming the broader market in recent weeks.

Lighter fell 0.94%, continuing its pullback after a July rally of more than 200%.

Worldcoin rose 13% over 24 hours but remains deep in a longer-term decline, trading about 91% below its record high from a year ago.

CoinMarketCap’s altcoin-season indicator fell to 37/100 from 51 last week. The drop suggests traders are becoming more focused on Bitcoin’s potential upside than on a broad rotation into altcoins.