Bitcoin Price Outlook as Oil Surges to $85 After Trump Reinstates Blockade on Iranian Ports

Bitcoin (BTC) price is up by 3.32% today, July 15, to trade at $64,690 at the time of writing. The gains follow a surge in buying pressure after US inflation dropped to 3.5%. Still, President Trump’s order to close Iranian ports poses a risk to BTC price if the escalating geopolitical tensions fuel sell-side pressure.