Bitcoin's Price Exceeds $64,000

Bitcoin's price increased by 1% and reached $64,297, although uncertainty in the cryptocurrency market remains high. The main reasons include the US-Iran confrontation, inflation risks, and expectations related to interest rates.

The disagreement between the US and Iran continues around the Strait of Hormuz. Rising oil prices increase inflation risks, which could push the Fed to maintain higher interest rates for a longer period.

Such an environment is less favorable for cryptocurrencies.

Market impact is also driven by uncertainty related to cryptocurrency sector regulation in the US. President Donald Trump will participate in a meeting held at the White House on Wednesday, which will be attended by representatives of cryptocurrency companies, the traditional financial sector, and the artificial intelligence industry.

The majority of other cryptocurrencies declined in price. Ether's price fell by 0.2%, XRP by 0.7%, and Cardano by 2.2%. Solana, however, increased by 0.1%.

Source: Investing.com