BTC, ETH price news: Bitcoin tops $64,000 on Monday as traders await FOMC minutes
Traders are watching Fed minutes and a planned White House crypto meeting as fading rate-hike bets and weak ETF inflows keep markets rangebound.
- Bitcoin rebounded to pass $64,000 on Monday, gaining 2% despite broader market instability from fresh US-Iran rhetoric and geopolitical tensions near the Strait of Hormuz.
- Donald Trump threatened Oman with military action regarding the Strait of Hormuz, while US equities fell 0.5% as investors reacted to an expiring ceasefire between the US and Iran.
- Traders are awaiting the Federal Reserve's FOMC minutes due Wednesday at 2 p.m. ET, with expectations for a rate hike next month dropping to about 25% amid economic concerns.
- Nick Ruck, director of LVRG Research, noted the market remains stalled near $63,000, with investors monitoring fading ETF inflows and the anticipated White House crypto meeting.
- Safe haven gold climbed to a daily high of $4,427 per ounce, while cross-crypto liquidations reached $180 million as derivatives market funding rates hit 20-month highs of 0.022.
13 Articles
13 Articles
Bitcoin climbs towards $64,000 as cooling inflation and falling treasury yields aid recovery
Bitcoin hovered near $64,000 as cooling inflation, lower Treasury yields and reduced expectations of further US monetary tightening supported crypto markets. Ethereum and select altcoins also gained, though analysts cautioned the rebound remains fragile. Investors now await FOMC minutes, inflation data and labour indicators, with $64,500 emerging as key resistance.
Bitcoin Pulls Back As Traders Watch Rate Signals
A representation of virtual cryptocurrency Bitcoin is placed on U.S. Dollar banknotes in this illustration taken November 28, 2021. REUTERS/Dado Ruvic/Illustration(New York, NY) – Bitcoin moved lower Monday as traders weighed interest-rate signals and broader risk appetite
Bitcoin Reclaims $64,000 as ETF Demand Shows Signs of Recovery
Bitcoin recovered above $64,000 as expectations of a September Federal Reserve rate hike fell sharply and preliminary spot Bitcoin ETF inflows returned. However, rising exchange balances, geopolitical tensions, and cautious market participation could limit further gains.
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