Bitcoin tops $64,000 as traders await Fed minutes and White House crypto meeting

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Bitcoin tops $64,000 outlook

Highlights

Bitcoin rises 0.5% to above $64,000 but remains down almost 3% week-on-week ahead of FOMC minutes and White House crypto meeting.
Hyperliquid's HYPE token jumps over 3% to $59 and nearly 9% on the week, outperforming all other major tokens in a mixed market.
Bloomberg dollar index drops 0.1% and MSCI emerging-market currency index hits a record, but fading ETF inflows keep crypto sentiment cautious.

Market moves before key policy events

As reported by CoinDesk, bitcoin crosses $64,000 in Asian morning trading on Monday, up about 0.5% on the day but down nearly 3% over the past seven days, underscoring how limited the broader market response remains despite more supportive macro conditions.

Ether gains more than 1% to just under $1,900, though it remains down 1% over the week. XRP edges up marginally to $1 but is still down 3% over seven days, while solana trades just above $75 and is lower by almost 2% on the week. Dogecoin adds nearly 1% to 7 cents, tron rises by less than 0.5% to just above 33 cents, and BNB slips marginally to a little over $604, leaving it flat for the week.

Hyperliquid's HYPE token stands out from the broader market, gaining more than 3% on the day to $59 and nearly 9% on the week. It is the only major token in the group to record a meaningful weekly gain.

Macro backdrop supports sentiment, but caution persists

The macro environment turns more favorable without breaking crypto out of its narrow range. A Bloomberg gauge of the dollar falls 0.1% toward a third straight decline and levels last seen in May, while MSCI's emerging-market currency index reaches an intraday record, led by the Taiwanese dollar and Thai baht.

Nick Ruck, director of LVRG Research, tells CoinDesk that the market remains stalled near $63,000 and that fading exchange-traded fund inflows point to a lack of optimism after last week's selloff. He says traders are watching this week's FOMC minutes and any developments from an anticipated White House crypto meeting for clearer signals on regulation and monetary policy.

The minutes from the Fed's July 28-29 meeting are due on Wednesday at 2 p.m. ET. They are expected to show how close policymakers come to raising rates before economic data released last week reduces those odds.

Our earlier article on the stalled CLARITY Act explained that the U.S. Senate entering recess without passing the bill prolongs uncertainty for crypto companies seeking clearer rules. We noted that attention has shifted to near-term regulatory actions, including an SEC meeting to consider limited fundraising exceptions that could offer interim flexibility while broader legislation remains delayed.

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