Bitcoin price held above $62,000 after renewed fighting between the United States and Iran slowed traffic through the Strait of Hormuz and sent oil prices higher, reviving inflation concerns across global markets.
Data from CryptoSlate shows that the largest digital asset traded near $63,000 on Thursday, holding above the $60,000 level that traders have watched since last month’s selloff.
The move came even as renewed US strikes on Iranian targets and retaliatory attacks by Tehran raised the risk of a broader disruption to energy flows from the Persian Gulf.
Brent crude settled 5.2% higher Wednesday at $78.02 a barrel, its highest close since June 19, after briefly topping $80 during the session. US crude also rose, while shares were mixed and bond markets reflected renewed concern that higher energy costs could keep inflation elevated.
For Bitcoin, the oil move arrives at a difficult point. The digital asset is just stabilizing after a bruising June, but it has not yet produced the
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