Bitcoin recovered toward $64,000 after Friday's sell-off, even as Iran's order to close the Strait of Hormuz revived geopolitical risk that permanent ceasefire talks in Switzerland were meant to resolve. The price held range-bound rather than breaking lower, suggesting the market is treating the Hormuz threat as a known risk rather than a new shock. Geopolitical flare-ups of this type have historically produced short-term volatility without altering Bitcoin's medium-term positioning.