Bitcoin Holds $62,600 as Iran Conflict and Looming CPI Trigger Market Volatility

Bitcoin is holding steady at the $62,600 level as geopolitical tensions and macroeconomic uncertainty collide. The reinstatement of the Hormuz blockade by Trump has sent oil prices surging, fueling renewed bets on interest rate hikes and reversing the recent 'peace trade' that had supported Bitcoin's recovery in early July.
As the Iran conflict reignites, the market's focus shifts heavily toward the upcoming CPI print. This inflation data serves as the next critical test for Bitcoin, determining whether the asset can maintain its footing or if macro headwinds will drive further volatility in the crypto markets.
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