{"id":9807,"date":"2026-06-12T07:53:59","date_gmt":"2026-06-12T07:53:59","guid":{"rendered":"https:\/\/cryptonews.uk.com\/?p=9807"},"modified":"2026-06-12T07:53:59","modified_gmt":"2026-06-12T07:53:59","slug":"btc-holds-steady-as-iran-closes-strait-of-hormuz-and-oil-surges-past-91","status":"publish","type":"post","link":"https:\/\/cryptonews.uk.com\/?p=9807","title":{"rendered":"BTC Holds Steady as Iran Closes Strait of Hormuz and Oil Surges Past $91"},"content":{"rendered":"

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  • Bitcoin traded back above US$63,000 (AU$89,460) on June 11, rising about 2.5% even as Iran shut the Strait of Hormuz and oil spiked.<\/span><\/li>\n
  • WTI crude surged above US$91 (AU$129) a barrel after the closure of a waterway that carries roughly 20% of the world\u2019s oil supply.<\/span><\/li>\n
  • The rebound held despite U.S. producer prices rising 5.1% year-on-year, their fastest pace since October 2022, underscoring Bitcoin\u2019s resilience to macro shocks.<\/span><\/li>\n<\/ul>\n<\/div>\n<\/div>\n

    Bitcoin (BTC) pushed back above US$63,000 (AU$89,460) on June 11, gaining roughly 2.5% on the day even as Iran closed the Strait of Hormuz and crude oil surged, in a show of resilience against a sharp escalation in geopolitical and inflation risk.<\/p>\n

    Iran shut the strait \u201cuntil further notice\u201d following attacks on U.S. infrastructure in the Gulf, choking a waterway that handles roughly 20% of the world\u2019s oil supply and substantial volumes of liquefied natural gas.\u00a0<\/p>\n

    WTI crude jumped above US$91 (AU$129) a barrel in response, reviving fears of an energy-driven inflation shock just as price pressures were already building across the U.S. economy.<\/p>\n

    Read more: Hyperliquid\u2019s Massive Buybacks and Strong Cash Flow Fuel Growing Bullish Momentum<\/p>\n

    Markets Caught Between Two Risks<\/h2>\n

    Rather than selling off, Bitcoin extended its rebound, trading near US$63,200 (AU$89,744) and brushing aside data showing U.S. producer prices up 5.1% year-on-year, the steepest since October 2022, and consumer prices up 4.2%, the highest since April 2023.<\/p>\n

    Trading firm QCP Capital characterised the backdrop as unusually fraught, noting that markets were \u201cbeing forced to price both military escalation risk and potential energy disruption\u201d at once. The firm\u2019s view framed risk assets as caught in an awkward position rather than clearly bullish or bearish.<\/p>\n

    President Donald Trump sharpened the tension further, warning Iran would be hit \u201cvery hard\u201d and posting that the US would be \u201ctaking Kharg Island, and other oil infrastructure points\u201d to \u201cassume total control of their Oil and Gas Markets.\u201d<\/p>\n

    Despite the noise, technical traders focused on Bitcoin\u2019s structure. Analyst Micha\u00ebl van de Poppe identified US$63,300 (AU$89,886) and US$65,800 (AU$93,436) as breakout zones that could act as springboards for a further move higher, while flagging US$60,000 (AU$85,200) as the key support to defend.<\/p>\n

    Read more: Dormant 2011 Bitcoin Wallet Awakens, Undercutting $285 Billion \u2018Abandoned BTC\u2019 Lawsuit<\/p>\n<\/p><\/div>\n

    Bitcoin,Iran,Market Analysis#BTC #Holds #Steady #Iran #Closes #Strait #Hormuz #Oil #Surges1781250838<\/p>\n","protected":false},"excerpt":{"rendered":"

    Bitcoin traded back above US$63,000 (AU$89,460) on June 11, rising about 2.5% even as Iran shut the Strait of Hormuz and oil spiked. WTI crude surged above US$91 (AU$129) a barrel after the closure of a waterway that carries roughly 20% of the world\u2019s oil supply. The rebound held despite U.S. producer prices rising 5.1%<\/p>\n","protected":false},"author":1,"featured_media":9808,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[285,191,372,2937,2913,204,2277,3884,1797],"class_list":["post-9807","post","type-post","status-publish","format-standard","has-post-thumbnail","category-bitcoin","tag-btc","tag-closes","tag-holds","tag-hormuz","tag-iran","tag-oil","tag-steady","tag-strait","tag-surges"],"yoast_head":"\nBTC Holds Steady as Iran Closes Strait of Hormuz and Oil Surges Past $91 - Crypto News: Latest Cryptocurrency News and Analysis<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/cryptonews.uk.com\/?p=9807\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BTC Holds Steady as Iran Closes Strait of Hormuz and Oil Surges Past $91\" \/>\n<meta property=\"og:description\" content=\"Bitcoin traded back above US$63,000 (AU$89,460) on June 11, rising about 2.5% even as Iran shut the Strait of Hormuz and oil spiked. 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