Bitcoin Falls Below $65k as Inflation Data Looms
Bitcoin's price slipped below $65,000 on Monday as investors stayed cautious ahead of upcoming U.S. inflation data. The cryptocurrency last traded at $64,935.4 by 09:26 ET (13:26 GMT), down 0.5% from the previous day.
The price drop comes after Bitcoin gained about 3% over the week following a surprisingly weak U.S. jobs report on Friday. However, attention is now focused on Wednesday's U.S. consumer price report, which could provide fresh clues on the Federal Reserve's policy path.
Energy prices remain sensitive to developments in the Middle East, particularly tensions surrounding Iran and the Strait of Hormuz. Oil traded above $83 a barrel on Monday as geopolitical tensions persisted.
Strategy, a company led by Michael Saylor, sold 1,690 Bitcoin for roughly $108.6 million between Aug. 3 and Aug. 9 at an average price of $64,262 per coin.