Bitcoin price moved back above $63,300 on Thursday after reports claimed the United Arab Emirates released billions of dollars in frozen Iranian assets. The reports also cited transfers of gold and cash from the UAE to Iran, though neither the UAE nor the United States had confirmed the claims.
Oil prices fell toward $81 per barrel as traders watched efforts to reopen the Strait of Hormuz. Bitcoin gained about 1% as energy prices eased and risk assets found short-term support.
UAE Asset Release Reports Draw Market Focus
Reports from The Hormuz Letter and other sources on X claimed the UAE released several billion dollars in Iranian assets held in Emirati banks. The reports said the transfer included about 1.5 tonnes of gold, valued between $200 million and $283 million. They also linked the release to assurances that Iran would spare the UAE from future attacks.
UAE Royal Jet reportedly operated a Boeing 737-7KK that carried assets from Abu Dhabi to Iran on August 11 and 12. The aircraft reportedly landed at Mehrabad Airport in Tehran and Payam Airport in Karaj before returning to the UAE. The claims described the flights as part of a broader transfer process involving frozen Iranian funds.
Earlier reports also linked the UAE to possible releases of Iranian assets. UAE could unlock between $10 billion and $20 billion, and sources said it had already delivered more than $3 billion. However, the UAE Foreign Ministry denied those reports at the time. US officials also rejected claims of any side agreement involving frozen Iranian funds.
Oil Retreat Supports Bitcoin Rebound
Oil prices moved lower on Thursday and approached $81 per barrel after a five-day advance. Traders reacted to the reported asset transfers while also monitoring talks linked to reopening the Strait of Hormuz. The waterway plays a major role in global energy trade, making developments around the route important for oil pricing.
Lower oil prices eased some inflation concerns that had weighed on Bitcoin earlier in the week. West Texas Intermediate had climbed more than 5% during the week, while Bitcoin had fallen about 2% over the same period. Higher energy costs can lift inflation expectations and reduce demand for risk assets.
BTC Crypto Tests Resistance After Four-Day Slide
Bitcoin price traded near $63,400 after gaining slightly within hours of the oil-price decline. The cryptocurrency had posted four consecutive daily losses before Thursday’s rebound. The move also followed softer US inflation data.
July headline CPI slowed to 3.4% year over year from 3.5%, while core CPI increased 0.2% monthly and 2.5% annually. US-listed spot Bitcoin exchange-traded funds recorded $61.16 million in net outflows on Wednesday, reflecting cautious institutional demand.
Meanwhile, Bitcoin's 50-day EMA sits near $64,542, creating the first major resistance area above current levels. The 100-day EMA stands near $66,667 and sits close to horizontal resistance around $66,500.
BTCUSD 1-Day Chart | Source: TradingView
On the downside, traders are watching support near $62,300. A break below that level could expose Bitcoin price to the July 1 yearly low near $57,800. The daily RSI stands near 48, while the MACD histogram stays slightly negative, leaving Bitcoin with weak momentum as the market tests nearby resistance.
