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Strait of Hormuz remains closed, Bitcoin hits $63,400 amid Iran-US tension and conflicting peace claims.

Market News
12 Jun 2026
Bitcoin
View Source
Bearish
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Iran has kept the Strait of Hormuz closed despite U.S. President Donald Trump's claim of a deal with Iran, maintaining pressure on global oil supplies and markets. The closure affects about 20% of the world's energy supply, pushing oil and inflation higher. Bitcoin's price fluctuated sharply, dropping to around $60,914 before rebounding to about $63,400 as traders reacted to mixed signals about a potential settlement. Without confirmation from Iran, markets remain volatile, with Bitcoin acting as a real-time gauge of geopolitical tensions and market sentiment.

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