Bitcoin Holds $62K as Gold Slides on US-Iran Tensions

Bitcoin held above $62,000 on Thursday while gold extended its slide to a fourth day as US-Iran tensions escalated, with both sides raising the prospect of closing the Strait of Hormuz.

Brent crude climbed 1% to $78.80 a barrel, a third consecutive session of gains, after the US military completed another round of strikes against Iran. Gold fell to around $4,060 an ounce, while two-year Treasury yields pushed toward their 2026 high. For crypto traders, the divergence between Bitcoin's relative stability and gold's decline highlights the evolving role of digital assets as a macro hedge. While gold traditionally benefits from geopolitical risk, its current slide suggests other factors such as rising real yields and a strong dollar may be dominating. Bitcoin's resilience above $62,000 could reflect growing institutional adoption and its perception as a non-sovereign store of value. Check NowPrice's crypto page for real-time pricing on Bitcoin, Ether, and other digital assets.

Looking ahead, traders will monitor further US-Iran developments, especially any disruption to oil flows through the Strait of Hormuz, which could fuel inflation and impact risk sentiment. Key data releases include US weekly jobless claims and the Federal Reserve's June meeting minutes, which may offer clues on the rate path. Bitcoin's ability to hold the $60,000-$62,000 support zone will be critical, with resistance at $65,000. Ether, trading at $1,730, faces resistance near $1,800 and support at $1,650.