Bitcoin Holds Steady Above $65,000 Amid Global Economic Uncertainty

Bitcoin continued its steady climb above $65,000 on Monday, despite some signs of caution ahead of key economic data releases. The cryptocurrency's price held largely steady around $65,191.4 by 02:41 ET (06:41 GMT), marking a 0.5% gain from the previous session.

The recent uptick in Bitcoin's price can be attributed to last week's surprisingly weak U.S. jobs report, which showed that employers unexpectedly cut 23,000 jobs in July. This data reduced expectations for near-term Federal Reserve tightening and helped lift demand for risk-sensitive assets, including cryptocurrencies.

However, investors remain cautious ahead of Wednesday's U.S. consumer price report, which could provide fresh clues on the Fed's policy path. The inflation data have taken on added importance due to ongoing geopolitical tensions in the Middle East, particularly surrounding Iran's efforts to reopen the Strait of Hormuz.