Live updates: Bitcoin holds $62,600 as the Iran conflict reignites and CPI looms

WikiBit 2026-07-14 15:51

Trump reinstated the Hormuz blockade, sending oil higher and rate-hike bets up, reversing the peace trade that helped bitcoin recover in early July. Today's inflation print is the next test.

U.S. inflation in focus as rate hike risks rise

U.S. CPI is the key focus on Tuesday, with markets pricing a 40% chance of a rate hike, according to the CME FedWatch Tool, while the 10-year Treasury yield remains above 4.6%.

Headline inflation is expected to slow to 3.8% year on year from 4.2%, with prices falling 0.1% month on month. Core inflation is expected to remain steady at 2.9% annually and 0.2% monthly. An upside surprise could further lift yields and support the dollar.

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