Bitcoin opened at $63,410 on Thursday, 0.2% below Wednesday's open, and its daily, weekly, monthly, and yearly trends are now all negative simultaneously for the first time in this stretch. The opening price has declined every session this week. Traders are weighing cooler July inflation against a Strait of Hormuz that remains closed, and the read from market watchers is that no amount of Fed relief gets Bitcoin back into the $65,000 range while that standoff with Iran is unresolved.