Bitcoin Trades Near $62,600 as Trump Reinstates U.S. Blockade of Iranian Ships

Bitcoin traded near $62,600 on Tuesday after U.S. President Donald Trump reinstated the U.S. blockade of Iranian ships through the Strait of Hormuz. According to NS3.AI, CoinDesk data showed Bitcoin was down 0.3% over the past 24 hours and was roughly flat for the week. In broader markets, Brent crude rose as much as 2.8% to about $85 a barrel. Traders also increased bets on a Federal Reserve rate hike. The next key data point for markets is the June CPI print, ahead of the Fed meeting scheduled for July 28 and 29.