Bitcoin has recovered to $63,500 — clawing back from the $62,600 low posted earlier today as renewed US-Iran fighting sent Brent crude up nearly 4% to a four-week high. The CoinDesk 20 index remains down 0.6% on the day, European equity benchmarks are off approximately 1%, and US index futures have slipped 0.3%. The Strait of Hormuz — which carried roughly one-fifth of global oil and gas supplies before the conflict — has been de-facto closed for 136 days. Fed rate-hike odds for July remain at 36% with the two-year Treasury yield holding at 4.28% as markets digest the CPI data alongside the ongoing Hormuz situation.
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