All eyes on Bitcoin this weekend as Iran is already disputing the US narrative on the Hormuz deal

Bitcoin rallied hard after Iran said it was reopening the Strait of Hormuz to commercial shipping. Bitcoin hit the highest level since February, oil prices dropped, Wall Street notched another record, and the U.S. 10-year Treasury yield slipped to 4.24%. But here’s the catch: markets acted as if the reopening had solved the core standoff between Washington and Tehran. Look closer, though, and the story gets more comp…