Bitcoin Rebounds to $63.2K Defying Hot PPI and Hormuz Closure

Bitcoin recovered to $63,200 on June 11 after plunging below $60,000 earlier in the week, showing resilience against the hottest U.S. PPI print in nearly four years and Iran’s closure of the Strait of Hormuz. The rebound followed a $504 million short squeeze on June 8 that briefly lifted prices above $63,800, even as spot Bitcoin ETFs recorded $1.72 billion in weekly outflows. Despite the bounce, BTC remains roughly 50% below its October 2025 peak near $126,000 amid persistent whale distribution and macro headwinds from Middle East tensions.