Bitcoin · Iran · Federal Reserve (FED) · CryptoSlate
Bitcoin’s $70K path now runs through pump prices as Iran shock fades
Compiled by KHAO Editorial — aggregated from 1 source + 4 references discovered via search. See llms.txt for citation guidance.
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Bitcoin cleared $60,000 again the week the Bureau of Labor Statistics reported June payrolls grew by 57,000, unemployment climbed to 4.2%, and labor-force participation slipped to 61.5%.
Key facts
- Citi cut its 12-month price target to $82,000 from $112,000 and reduced its expected net ETF inflows to zero from $10 billion, citing ETF flows already down $3.3 billion for the year
- Brent traded near $72.19 a barrel and WTI near $68.81, both close to pre-war levels now that Hormuz exports have resumed, Saudi Arabia has cut its own prices, and OPEC+ has raised output targets again
- Bitcoin cleared $60,000 again the week the Bureau of Labor Statistics reported June payrolls grew by 57,000, unemployment climbed to 4.2%, and labor-force participation slipped to 61.5%
- The dollar index dropped 0.56% to 100.83, September Fed-hike odds fell to 54% from 67%, and Bitcoin is trying to breach $64,000 as of June 6
Summary
01 Bitcoin reclaimed $60,000 after June payrolls missed, unemployment rose, and the dollar weakened. 02 That matters because softer jobs data and fading Iran shock could reduce Fed-hike odds and support risk assets. 03 But July 14 CPI will decide whether gasoline pass-through stays sticky enough to keep Bitcoin below a confirmed breakout. The dollar index dropped 0.56% to 100.83, September Fed-hike odds fell to 54% from 67%, and Bitcoin is trying to breach $64,000 as of June 6.