Bitcoin Edges Up to $64k Amid Iran Tensions, Rate Jitters

Bitcoin prices inched up to $64,297.3 on Tuesday as cryptocurrency markets remained under pressure from rising U.S.-Iran tensions and concerns over sticky inflation and interest rates.

The ongoing uncertainty over the Strait of Hormuz, where oil prices rose sharply this week, drove fears of higher energy-driven inflation and potential interest rate hikes, which could negatively impact cryptocurrencies that thrive in low-rate environments.

Broadly, cryptocurrency markets remained range-bound on Tuesday, with Bitcoin leading the pack as it rose 1% while other altcoins, such as Ether, XRP, BNB, Solana, and Cardano, traded mostly flat or declined modestly.

The White House meeting scheduled for Wednesday between President Donald Trump and crypto industry leaders may provide some direction on regulatory developments, but the market's immediate focus remains on the ongoing geopolitical tensions.