Bitcoin Price Rises Past $64,000 in Asia as Fed Rate Hike Bets Fade

Bitcoin pushed above $64,000 during Asian morning trading on Monday, rising half a percent on the day even as it remains down nearly 3% for the week.

A weaker dollar and softening expectations for a Federal Reserve rate hike failed to pull crypto markets out of their recent tight range.

HYPE Outperforms the Broader Market

Hyperliquid’s HYPE token stood out as the top performer, gaining over 3% to reach $59 and climbing almost 9% over the past week, making it the only major cryptocurrency with a meaningful weekly gain. Ether rose more than 1% to just under $1,900 but remains down 1% over seven days. Dogecoin, Tron, and XRP posted small daily gains, though XRP is still down 3% for the week. Solana edged higher to just over $75 while BNB stayed largely flat.

Weaker Dollar Fails to Move Crypto Markets

A Bloomberg dollar index slipped for a third straight session to levels last seen in May, while an emerging-market currency gauge hit a fresh intraday high, led by gains in the Taiwanese dollar and Thai baht. The shift followed weak US retail sales data released Friday, which showed the steepest monthly decline in more than a year. Traders now see roughly a one-in-four chance of a Fed rate hike next month, down sharply from about 50% just a week earlier, pushing Treasury yields lower across the board.

Analysts Point to Key Catalysts This Week

Market observers note that bitcoin remains stuck near $63,000, with fading exchange traded fund inflows signaling limited optimism following last week’s selloff. Attention now turns to the Federal Reserve’s July meeting minutes, due out Wednesday afternoon, along with developments from an upcoming White House crypto meeting, both of which could offer clearer direction on regulatory and monetary policy.