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Ahmed Barakat
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BTC USD faces big battles today as tensions rise with Iran with Trump hitting proportionately hinting at a deal days later. Today’s CPI data will also decline amid rising energy prices. The escalation has already led to the liquidation of more than $400 million, putting pressure on USD Bitcoin at the $61,000 level. Then add the oversubscription to SpaceX’s IPO two days later.
After the commensurate strikes, Trump hinted at a possible agreement “days away,” but the Iranian escalation has seen Bitcoin fall against the dollar from its recent highs. More than $400 million in liquidations came to market, with more than $300 million coming from long positions. The temporary calm that prevailed after the previous calm was quickly broken.
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Post-Trump Iran Escalation: Broken BTC USD, SpaceX IPO Hype Excessive
BTC USD now holds an unstable floor at $61-62k as energy prices rise due to the conflict, fueling macro concerns. The total cryptocurrency market cap remains steady at $2.2 trillion as Bitcoin’s dominance declines, but fluctuations could occur at any time.
SpaceX’s IPO is emerging as a “big test for the market” on June 12. Tom Lee describes any decline as short-lived. According to him, the success of the IPO helps the bull market and does not indicate the top. He insists that the chip sell-off resulting from the reallocation of funds before their debut will attract buyers again.
Following his suspension, his company, Bitmain, acquired 75,000 ETH worth $123 million from Kraken and FalconX in recent hours, bringing total Ethereum holdings to about 5.5 million.
Realistically, a SpaceX IPO could channel new capital into the tech and cryptocurrency ecosystems. People peg the IPO as the next catalyst despite short-term selling pressure. BTC USD price fell to $61k as some raised funds for the first time, however Lee sees it as bullish in the long term. As of today, the $75 billion company is oversubscribed at $250 billion.
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Predicting a decline in CPI data
CPI forecasts are at +4.2% y/y for May, the highest level in more than three years, versus 4.2% in April. Energy spikes linked to the conflict between Trump and Iran are blamed for the jump in gasoline and fuel oil prices. The same decline occurs at 12:30 UTC, with a 70 percent chance of a Fed rate hike.
BTC USD is holding $61-62k pre-CPI in a purely speculative mode, but historical patterns show the 9 percent pre-CPI pump fading on release. Hot data risks testing $60k while cooler numbers open $65k. Not only did the CPI decline in the United States; Japan’s hot PPI adds pressure to the yen carry trade, further impacting cryptocurrencies.
On the adoption front, Kraken has been named the official cryptocurrency exchange of the 2026 World Cup, while Anthony Scaramucci remains a long-term believer in BTC, anticipating a recovery by Q4 2026 or Q1 2027.
Cryptocurrency Tax Bills Face Opposition from House Committee, Offering Potential Relief for Digital Assets Despite Near-Term Iran Fears, Friction, Looming CPI Data, and SpaceX IPO Reallocation BTC USD is fundamentally unchanged, nor are cryptocurrencies. Institutional accretion and a bullish stance on SpaceX’s IPO are bringing confidence to a fragile market.
Geopolitical fear remains temporary while adoption milestones accelerate legitimacy. A lower CPI could lead to higher liquidity, pushing BTC USD towards $65K as fears of a long-term rally subside. A successful SpaceX IPO would bolster bull market narratives, attracting capital that would likely flow into cryptocurrencies.
Looks like the way forward rising.
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