Bitcoin Stabilizes at $63,500 Amid Tensions and Regulatory Uncertainty

Bitcoin has stabilized at $63,500 after falling nearly 3% last week. The cryptocurrency's price rose by 0.8% as of 09:27 Moscow time, but is still trading nearly 50% below its record high set in October.

The ongoing tensions between the U.S. and Iran in the Strait of Hormuz are limiting interest in speculative assets like cryptocurrencies. Oil prices continue to rise due to these tensions, which is also affecting Bitcoin's price.

Caution ahead of this week's White House meeting with leading crypto industry representatives is also holding back the cryptocurrency market. The meeting will be attended by President Donald Trump and leaders from various industries, including traditional finance and artificial intelligence.