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Ahmed Barakat
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BTC USD is facing major battles today as the Iran conflict escalates and Trump’s fight against it shows that he has a few days left. CPI data will also drop today amid strong spikes. The rise has already crossed $400 million at the close, pushing BTC USD to the $61,000 level. Then add registration for the SpaceX IPO with two days left.
After similar attacks, Trump hinted at a possible deal “days ago,” however Iran’s rise has sent BTC USD down from recent highs. More than $400 million closed came into the market, with more than $300 million coming from long positions. The temporary lull from the initial decline was quickly shattered.
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Beyond Trump’s Iran Rise: Breaking BTC USD, SpaceX IPO Over-Hype
BTC USD now has an unstable position at $ 61-62k as energy prices rise from the war, feeding the big fear. The total value of the crypto market is stable at $2.2T as Bitcoin dominance slides, but changes can come at any time.
The SpaceX IPO comes off as a big “market test” for June 12. Tom Lee calls any pullback short-lived. According to him, the success of the IPO supports the bull market and does not indicate the top. Chip sales from pre-emptive refunds will bring back buyers, he insists.
Following his comment, his company, Bitmine, acquired 75k ETH worth $123 million from Kraken and FalconX in recent hours, raising the total amount of ETH to about 5.5 million.
Indeed, the SpaceX IPO could support new investments in the technology and crypto ecosystems. People peg an IPO as the next catalyst even if it’s a short-term sale. BTC USD dropped to $61,000 as other currencies gained momentum, but Lee still sees it as sustainable for the long term. As of today, the largest subscription has reached $250 billion for a company valued at $75 billion.
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Forecast CPI Data Drops
CPI forecasts reach +4.2 percent YoY for May, the highest in three years, against 4.2 percent in April. Energy spikes tied to Trump’s tensions with Iran have been blamed for jumps in gasoline and oil prices. The same low comes at 12:30 UTC, with a more than 70 percent chance of a Fed rate hike now cooked.
BTC USD is worth $61-62k pre-CPI in a hypothetical scenario, but historical trends show that the 9 percent pre-CPI pump is ending at release. Hot data sets the test at $60k while cold data opens at $65k. Not just US CPI drops; Japan’s hot PPI adds to the yen’s bearish pressure, increasing crypto sentiment.
Ahead of the launch, Kraken was named the official exchange for FIFA World Cup 2026, while Anthony Scaramucci remains a long-term BTC believer, predicting that it will recover by Q4 2026 or Q1 2027.
Crypto tax bills face House Committee push, providing relief to digital assets. Despite the imminent Iran scare, the conflict, the closeness of the CPI data, and SpaceX’s IPO relocation, BTC USD has not changed much, and neither has the crypto. Stockpiling and consolidation on the SpaceX IPO brings confidence in a fragile market.
Geopolitical risk remains temporary as major birth control events support legitimacy. Cooler CPI could lead to a supportive currency rally, pushing BTC USD to $65,000 as long-term fear relief. The success of the SpaceX IPO could fuel the bull market news, drawing money that would likely flow into crypto.
The way forward is visible bullish.
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