Bitcoin Tumbles Below $64,400 Amid Rate Hike Concerns and Strong US Jobs Data

Bitcoin's price dipped below $64,400 amid strong US labor market data and concerns of a Federal Reserve rate hike in September. The cryptocurrency fell 0.69% to around $64,384 after reaching resistance near $64,800-$65,000.

The rise in jobless claims below expectations added to the pressure on risk assets, with crude oil prices also increasing. Geopolitical tensions in the Strait of Hormuz further weighed on markets.

However, spot Bitcoin ETFs saw significant inflows in early August, reaching $626 million, a sharp increase from July's $172.4 million. This surge in investor interest suggests renewed confidence in the market despite uncertainty.