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Bitcoin briefly tops $64,000 in Asia as rate-hike bets fade

Bitcoin was around $63,300 in Asian trading, while Hyperliquid's HYPE gained nearly 9% on the week and ether remained below $1,900.

Reported · Written up by our desk · Market Structure

Bitcoin traded around $63,300 in Asian hours and briefly moved above $64,000 on Monday, but the broader crypto complex stayed largely rangebound, according to CoinDesk data. The report said bitcoin was up about 0.5% on the day but down nearly 3% over the week.

CoinDesk highlighted HYPE as the standout, rising more than 3% on the day to about $59 and almost 9% for the week. Other major tokens were mixed to weaker over the seven days, including ether, which was up over 1% to just under $1,900 but down about 1% on the week.

The report linked the subdued market tone to macro and positioning factors, noting a softer dollar and reduced expectations for Federal Reserve rate hikes. It said swaps traders put the probability of a Fed rate rise next month at about one in four, down from roughly 50% a week earlier, with Treasuries rising across the curve.

CoinDesk also pointed to near-term catalysts, including the release of FOMC minutes and a scheduled White House crypto meeting. Analysts cited in the story said fading optimism and weaker exchange-traded fund inflows after last week's selloff have kept bitcoin stalled near the $63,000 area.

Latest closeBitcoin $63,324.38 ▲0.8%

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