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Crypto

Bitcoin rebounds to $63,400 despite Hormuz closure news and U.S. inflation surge

Bitcoin recovered the $63,400 level despite a rise in the U.S. producer price index and reports that Iran temporarily closed the Strait of Hormuz. BTC/USD rose as high as $63,200 on Bitstamp, up more than 2.5 percent on the day, Cointelegraph reported. Oil prices climbed, with WTI topping $91 a barrel. U.S. data showed May core final demand prices up 5.1 percent year on year and CPI up 4.2 percent.

Finance

K Bank offers 0.3 percentage point preferential rate on Plus Box

K Bank is offering interest-rate benefits to customers managing short-term funds as demand for parking accounts rises amid growing investment standby funds. The bank said on June 11 it will run an event providing an annual 0.3 percentage point preferential-rate coupon to Plus Box customers. Participants can join via the K Bank app without conditions. Preferential-rate tiers depend on each customer’s Plus Box balance as of June 10, with new account holders eligible up to 10 million won.

Crypto

Grayscale sets conditions for bitcoin bottom, says new buyers needed beyond Strategy

Bitcoin needs new sources of buying beyond Strategy to form a sustainable bottom, an analysis said. CoinPost reported that Grayscale Research said spreading holdings beyond Strategy could be positive long term, but additional demand is needed to stop the downturn. The report noted market sensitivity to Strategy moves despite a small recent sale. Bitcoin fell below 10 million won and U.S. spot ETFs saw extended outflows before a small inflow on June 4.