Bitcoin price has less than 8 hours to outrun $60,000 before Hormuz conflict takes over again
Bitcoin is trading near $62,172 after a volatile session, and three catalysts in the next 24 hours could drive a larger move: June CPI, Fed Chair Kevin Warsh’s testimony, and the start of US enforcement of a blockade against Iranian shipping. Economists expect headline CPI to slow to about 0.2% month over month and 3.8% year over year, with core inflation near 2.8%-2.9%. But rising oil prices and wider Middle East shipping risks may quickly offset that relief. If CPI is soft, Warsh treats it as meaningful progress, and blockade enforcement stays limited to Iranian-linked traffic, Bitcoin could recover above the day’s $64,273 high. If CPI is hot, Warsh emphasizes sticky inflation, and the blockade worsens oil risk, yields and the dollar could rise further and pull Bitcoin back toward $61,794, with $60,000 as the next key support.
