Bitcoin Hits $63.2K Despite Inflation and Iran Hormuz Crisis

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Bitcoin mostly preserved a recent rebound despite the highest US PPI inflation since October 2022 and Iran closing the Strait of Hormuz oil route.

Bitcoin (BTC) returned to $63,000 on Thursday as crypto shook off news that Iran had closed a key global oil route.

Bitcoin sees volatility but hits intraday highs despite surging US inflation and another Strait of Hormuz closure.

Oil rebounds as the US promises fresh attacks on Iranian infrastructure on Thursday.

Bitcoin upside targets focus on the remaining gaps in CME Group's futures market.

Iran and PPI inflation spark new risk-asset headwinds

Crypto rebounded despite growing geopolitical tensions and the threat they pose to inflation trends worldwide. Reports referred to Iran closing the Strait of Hormuz “until further notice” following attacks on US infrastructure in the Gulf states.

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