Bitcoin Hits $64K Briefly, But Crypto Market Remains Subdued

Bitcoin prices briefly surpassed $64,000 in Asian morning hours on Monday, but remained relatively stable overall. The cryptocurrency hovered around $63,300, little changed from the day before and lower than it was a week ago.

The HYPE token, part of the Hyperliquid ecosystem, stood out as a top performer, gaining over 3% in a single day and nearly 9% for the week. Other major cryptocurrencies, including ether, solana, and XRP, saw more modest movements with mostly weekly declines.

Analysts point to fading optimism, reduced exchange-traded fund inflows, and uncertainty surrounding upcoming events as factors contributing to the subdued crypto market. This week's release of Federal Reserve minutes and a White House meeting on cryptocurrency are expected to provide clarity on regulatory and monetary policy landscapes.