Your Day Ahead for July 14, 2026
By Francisco Rodrigues|Edited by Sheldon Reback Jul 14, 2026, 11:15 a.m. 3 min readMake preferred on ShareShare this articleCopy linkX (Twitter)LinkedInFacebookEmailMake preferred on Increased U.S.-Iran tensions have impacted both crypto and stock markets, while oil prices have surged. (U.S. Navy)SummaryShowThis is an excerpt from CoinDesk newsletter 'Daybook.' Sign up here, if you haven't already.
Bitcoin BTC$62,783.02 has experienced a drop in the last 24 hours, now priced at $62,600 as investors moved away from high-risk assets due to rising inflation fears linked to increasing oil costs.
Brent crude oil has surged nearly 4% during this timeframe, a response to the resurgence of hostilities between the U.S. and Iran, which has reignited the so-called Nacho (Not a Chance Hormuz Opens) trade, implying traders expect the critical waterway will remain closed.
The larger CoinDesk 20 (CD20) index saw a decline of 0.6%, while European stock indices fell around 1% and U.S. index futures dropped by 0.3%.
Incidents involving tanker assaults have significantly decreased traffic through the Strait of Hormuz, which previously accounted for about 20% of global oil and gas shipments and has effectively been closed for 136 days. The escalation in conflict has driven oil prices to a four-week peak.
This shift has reversed some of the gains made during the peace trade that allowed bitcoin to rebound from its lows in late June. Rising oil prices contribute to heightened inflation risks in the near term, leading to increased Treasury yields and a reduced appetite for interest-sensitive investments.
The renewed conflict has also led to a decrease in the perceived likelihood of the Strait of Hormuz reopening by year-end, dropping from 65% to 56%. Traders currently see little chance of a reopening by the end of the month.
Prediction markets indicate a 36% probability of an interest rate hike by the Federal Reserve this month. This expectation has raised the two-year Treasury yield to 4.28%, continuing a trend of increasing rates that has previously pressured both bitcoin and gold.
The upcoming June CPI report will be a critical indicator, expected to show a decline in headline inflation to 3.8% from 4.2% year-over-year, while core inflation is predicted to remain steady at 2.9%.
A weaker report could lessen expectations for a July rate hike, whereas stronger-than-anticipated data would likely reinforce the possibility. Stay vigilant!
Read more: For insights on today's altcoin and derivatives activity, see Crypto Markets Today. For a complete overview of this week's events, check CoinDesk's "Crypto Week Ahead."
Trending Now
- Iran and U.S. Exchange Attacks, Competing for Control of the Strait of Hormuz (Reuters): Iran launched ballistic missiles at a U.S. air base in Jordan, while the U.S. retaliated with five hours of attacks on Iranian positions, escalating tensions and driving oil prices to four-week highs.
- U.S. Government Transfers $288 Million in Seized Bitcoin and Ether to Coinbase Prime (CoinDesk): Wallets linked to the U.S. government transferred approximately $288 million in seized bitcoin and ether to Coinbase Prime on Monday, as per Arkham data.
- Bitcoin Declines as Traders Increase Expectations for July Fed Rate Hike Before Inflation Report (CoinDesk): Major cryptocurrencies faced selling pressure as traders raised their bets for a Federal Reserve interest rate hike in July, ahead of crucial U.S. inflation data and congressional testimony from Chair Kevin Warsh.
Today's Signal
The chart illustrates the ratio of altcoin market capitalization (excluding the top 10 tokens) compared to bitcoin market capitalization on a weekly basis.
This ratio has plateaued after failing to surpass the primary resistance line.
Currently, there is no evident momentum in altcoins relative to bitcoin, nor are there indications of a potential shift in the near term.
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Gate Leads Spot Market Share Gains as CEX Volumes Rise for First Time in Five Months
Gate Leads Spot Market Share Gains as CEX Volumes Rise for First Time in Five Months
In June, CEX trading volumes increased for the first time in five months, with spot volumes rising 15.3% to $1.11T and RWA perpetual volumes reaching a record $311B.
By CoinDesk ResearchJul 13, 2026In June, CEX trading volumes increased for the first time in five months, with spot volumes rising 15.3% to $1.11T and RWA perpetual volumes reaching a record $311B.
Why it matters:
In June, CEX trading volumes increased for the first time in five months, with spot volumes rising 15.3% to $1.11T and RWA perpetual volumes reaching a record $311B.
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