Bitcoin Stuck in Range as Markets Await FOMC Minutes

Bitcoin's price hovered around $63,300 in Asian trading on Monday, showing little change for the day and a decline over the week. Despite a softer US dollar and reduced expectations for Federal Reserve rate hikes, cryptocurrency markets remain subdued.

The Hyperliquid HYPE token was an outlier, gaining more than 3% on the day and nearly 9% over the week. Other major tokens such as ether, solana, XRP, and dogecoin saw modest moves and mostly weekly declines.

Nick Ruck, director of LVRG Research, attributed the market's stagnation to fading exchange-traded fund inflows and a lack of optimism following last week's selloff. He pointed out that key catalysts this week include the release of the FOMC minutes on Wednesday at 2 p.m. ET.