Bitcoin crossed $64,000 in Asian morning hours Monday, up 0.5% on the day but down 2.9% over the week as subdued crypto market conditions persist.
The largest cryptocurrency hovered near $63,300 in Asian trading. Ether traded at $1,900, up 1% daily but down 1% weekly. Solana fell 2% over seven days to $75. Other major tokens showed mixed movement: XRP at $1, BNB at $604, Dogecoin at 7 cents, and Tron at 33 cents.
Hyperliquid’s HYPE token was the standout performer, gaining 9% over the week and 3% on the day, trading near $59. Every major cryptocurrency gained on Sunday, though most remain lower over the seven-day period.
Macro Backdrop Softens, But Not Enough
A softer dollar and fading rate-hike bets failed to lift crypto out of its recent trading range. The Bloomberg dollar index slipped 0.1% toward a third straight decline, reaching levels last seen in May.
Swaps traders have sharply reduced their bets on a Federal Reserve rate increase next month. The probability now stands at around one in four, down from roughly 50% a week prior. U.S. retail sales figures released Friday showed the sharpest monthly drop in more than a year as consumers pulled back spending.
Despite these macro improvements, fading optimism, weaker exchange-traded fund inflows, and uncertainty ahead of key policy events are keeping crypto markets subdued.
FOMC Minutes and White House Meeting in Focus
Nick Ruck, director of LVRG Research, outlined the week’s critical catalysts: “Key catalysts to watch this week include the release of the FOMC minutes and any developments from the anticipated White House crypto meeting, both of which could provide clearer signals on the regulatory and monetary policy landscape.”
The Federal Open Market Committee minutes are scheduled for release Wednesday at 2 p.m. ET. The White House crypto meeting remains anticipated but without a confirmed date or additional details in available reports.
The convergence of softer macro conditions, declining rate-hike odds, and reduced exchange-traded fund flows has created a holding pattern in crypto markets. Traders are awaiting clearer policy direction before committing capital at current price levels.
