Bitcoin price shows resilience above $60,000 amid renewed US-Iran hostilities

A notable development has hit the crypto markets. 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 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.

Market Dynamics

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 sustained demand needed to make the rebound less sensitive to macro shocks.

This is because higher crude prices can feed inflation expectations, lift yields, and reduce the chance of easier monetary policy, all of which tend to weigh on speculative assets. That leaves Bitcoin caught between two forces: support near $60,000 and a renewed energy shock that could put the Federal Reserve back at the center of the trade. Strait of Hormuz traffic slowdown revives oil and Fed risk The latest escalation followed US strikes on Iranian targets for a second consecutive day, after Washington said commercial vessels had been attacked while passing through the Strait of Hormuz.

Iranian media reported explosions along the country’s southern coast and said strikes hit Iranian-controlled islands in the Gulf. Iran’s health ministry said 14 people had been killed over the past two nights. President Donald Trump said on Truth Social that the US strikes were retaliation for attacks on ships and warned that any further action by Iran would bring a stronger response.

Market Impact

The exchange quickly moved into energy markets because the Strait of Hormuz is one of the world’s most important routes for oil and liquefied natural gas shipments. reported that four oil and LNG tankers turned back after attempting to pass through the waterway, including three empty LNG carriers bound for Qatar’s Ras Laffan export terminal. Bloomberg, citing Kpler data, reported that traffic slowed sharply Thursday.

Only one tanker was seen moving through the Strait earlier in the day, alongside an Iranian container ship. No traffic was detected in the corridor closer to Oman, the route used by vessels seeking to avoid Iranian-controlled waters. The slowdown marked a sharp reversal from recent flows.

Bloomberg reported that 14 commodity vessels crossed Wednesday, compared with an average of 34 daily tanker crossings in the three weeks after the ceasefire. Even without a formal closure, reduced traffic can tighten energy markets. Shipowners may avoid the route, insurers may raise costs and buyers may seek alternative cargoes while the risk of further attacks remains elevated.

This shift continues to shape the digital-asset landscape, with analysts examining its near-term effects.