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Crypto

Bitcoin Treads Water Above $64k Amid Hormuz Deal Hopes

Guavy AI Editorial Team
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Bitcoin traded above $64k on Wednesday as investors remained hopeful that a deal to reopen the Strait of Hormuz was imminent.

The world's largest currency rose 1% to $64,305.6 by 02:33 ET (06:33 GMT), despite remaining within a tight trading range.

The optimism over a potential deal to reopen the key waterway sparked risk-on moves in markets, with oil prices falling and artificial intelligence stocks seeing strong earnings.

However, crypto investors remained cautious, favoring more established assets over speculative plays like Bitcoin.

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