Bitcoin Hits $64,332 as Dovish Fed Outlook Trumps Middle East Concerns

Bitcoin reclaimed its spot above $64,000 on Monday as investors adjusted their expectations for Federal Reserve policy and the dollar weakened.

The largest cryptocurrency rose by 2.39% to $64,332 over the previous 24 hours, according to CoinMarketCap, after dipping to $62,530 a week earlier.

A softer U.S. inflation outlook, reflected in July's retail sales figures, and lower Treasury yields contributed to the rally, which was not driven by geopolitical developments related to Iran and the Strait of Hormuz.

The Binance long/short ratio has been running at 2.05, with roughly 67% of accounts positioned long, but spot Bitcoin ETF flows have not turned decisively positive, with U.S. funds posting net withdrawals last week.