EL7.AI
CryptoUpdated×2•Originally published 12 July 2026•Updated 12 July 2026•
2 min read

Bitcoin Breaches $64K as Market Focus Shifts from Hormuz Tensions to U.S. CPI

Key Facts

1Polymarket odds place the chance of Bitcoin staying above $54K at 99.95%, while the probability of hitting $64K sits near 46%.
2Bitcoin price hovered near $63,800 over the weekend despite reports of U.S. airstrikes and Iran closing the Strait of Hormuz.

Signaling resilience against geopolitical disruptions, Bitcoin has successfully breached key psychological resistance levels driven by strong buying momentum. According to reports, Bitcoin rose to trade near $64,100, marking a weekly rebound of approximately 2.6% despite ongoing tensions in the Strait of Hormuz. Polymarket data reflects a bullish shift in sentiment, with the probability of the asset staying above the $64,000 mark rising to 56.5%.

This price breakout occurs as the market begins to price in the risks associated with the Strait of Hormuz—a vital artery for 20% of global oil supply—and shifts focus toward macroeconomic drivers. Per market data, cryptocurrencies have demonstrated higher stability compared to commodity-linked assets impacted by shipping pressures. Analysts suggest that Bitcoin's ability to maintain gains above $64,000 reinforces its role as a liquidity hedge amid global trade volatility.

Looking ahead, traders are monitoring the new support level at $64,000 to confirm the sustainability of the upward trend. With Bitcoin trading at $64,100 (July 12, 2026), focus has shifted to the U.S. Consumer Price Index (CPI) release scheduled for July 14, 2026. This report stands as the next major macro catalyst, likely to dictate Fed policy direction and its subsequent impact on risk appetite within the crypto sector.