Crypto
Bitcoin Surges Above $64K Amid US-Iran Tensions
Bitcoin prices rebounded above $64,000 on Monday after investors watched geopolitical tensions between the US and Iran escalate.
The cryptocurrency gained more than 2% during trading hours, according to TradingView data, as it moved back above the key level of $64,000.
Gold prices also rose amid the uncertainty, increasing by over 1% to reach around $4,427 per ounce. Gold-backed exchange-traded funds have attracted significant investment in recent weeks, with inflows approaching $12 billion through August 13.
Despite Bitcoin's recovery, derivatives market data indicates that traders are increasingly positioned for further gains, with funding rates reaching their highest level in 20 months at 0.022 on August 14.