BTC, ETH price news: Bitcoin tops $64,000 on Monday as traders await FOMC minutes
Bitcoin traded around $63,300 in Asia and rose above $64,000 on Monday, up about 0.5% on the day but down nearly 3% on the week, as crypto stayed in a tight range amid a softer dollar and reduced rate-hike expectations. Hyperliquid’s HYPE gained over 3% on the day and nearly 9% on the week. Traders await Fed FOMC minutes and a White House crypto meeting.
How this was made
The 30-second read
Why it matters
The report highlights Wednesday’s FOMC minutes as the main catalyst that could clarify how close the Fed was to raising rates, potentially shifting rate expectations and crypto risk appetite.
Market read
Traders are positioned for a volatility event around the FOMC minutes, with current price action described as subdued due to weaker ETF inflows and policy uncertainty.
What to watch
ETF inflow data is referenced but not quantified; without the magnitude, it is hard to gauge whether the next catalyst is truly monetary-policy driven versus flow-driven positioning.
Background
BTC hovered near $63,300 in Asia, with reduced expectations for Fed rate hikes and a softer dollar, while crypto remained in a tight range.
Ticker impact
Bitcoin crossed $64,000 in Asian morning hours Monday, but is down almost 3% on the week as traders await Fed minutes.
Expect elevated volatility into the FOMC minutes release, with a potential breakout only if minutes shift rate-hike expectations materially.
The article ties BTC’s lack of follow-through to fading rate-hike bets and reduced ETF inflows, then flags the minutes as the key catalyst due Wednesday at 2 p.m. ET.
Solana edged up to just over $75 but is down almost 2% over seven days as crypto stays stuck in a tight range.
Volatility may increase around the Fed minutes, but direction is uncertain given the article’s emphasis on macro-driven range trading.
The report provides only modest SOL price changes and no SOL-specific news, while the main catalyst is macro policy information.
XRP is marginally higher to about $1 on the day, but down 3% on the week while traders await FOMC minutes.
Likely to track broader crypto sentiment into the minutes; a sustained move would require a macro catalyst rather than XRP-specific developments.
No XRP-specific catalyst is mentioned; the article’s causal narrative centers on ETF flows and Fed minutes.
Dogecoin added almost 1% to 7 cents Monday, but the article frames moves as modest within a broader tight crypto range.
Expect limited follow-through unless the Fed minutes meaningfully change rate expectations and lift overall crypto risk appetite.
The article does not cite DOGE-specific news, and emphasizes macro uncertainty and subdued flows.
Hyperliquid’s HYPE token gained more than 3% on the day and nearly 9% over the week, standing out versus other majors.
Near-term momentum could continue, but it may still be capped by the broader macro catalyst risk from the Fed minutes.
The article attributes subdued majors to macro and ETF flows, but does not explain the specific driver behind HYPE’s outperformance.
Market effects
Crypto is trading as a macro-sensitive risk asset, with ETF inflows and Fed minutes framed as the dominant near-term drivers.
Asian trading is highlighted, with a softer dollar and stronger emerging-market currencies described as supportive but not yet translating into crypto upside.
US monetary-policy signals (FOMC minutes) are positioned as the key global catalyst for crypto volatility this week.
Counterpoint
The article’s “range-bound” framing may understate the probability of a technical breakout if minutes surprise, since BTC already cleared $64,000.
Key entities
- cryptoBitcoin
BTC crossed $64,000 in Asian morning hours Monday but is down nearly 3% on the week.
- cryptoEther
ETH rose over 1% on the day to just under $1,900 but is down about 1% over seven days.
- cryptoHyperliquid HYPE
HYPE outperformed, up more than 3% on the day and nearly 9% over the week.
- macroFederal Reserve FOMC minutes
Minutes from the July 28-29 meeting are due Wednesday at 2 p.m. ET and are framed as a key catalyst.
