Bitcoin traded above the $62,000 mark as investors monitor progress on a key U.S. cryptocurrency bill, continued institutional interest, and ongoing security risks across the digital asset sector.
The U.S. dollar strengthened against major currencies after renewed military conflict between the U.S. and Iran drove oil prices higher, fueling concerns about inflation and increasing bets on Federal Reserve interest rate hikes.
The business intelligence firm disclosed a significant loss on its vast bitcoin portfolio for the quarter ending June 30 and confirmed recent sales of the cryptocurrency to cover shareholder distributions and bolster cash reserves.
The world's largest cryptocurrency rose nearly 2% on Thursday, supported by a broader improvement in market risk appetite after comments from President Trump suggested a de-escalation with Iran, leading to a drop in oil prices.
Bitcoin slipped below $63,000 as escalating military actions between the U.S. and Iran dampened risk appetite. Investor sentiment was also impacted by Federal Reserve meeting minutes that revealed high uncertainty over the future path of interest rates.
The special purpose acquisition company Cantor Equity Partners I and Bitcoin investment firm BSTR Holdings have scrapped their original merger agreement, citing market conditions. The two parties will now attempt to negotiate a revised transaction.
The leading cryptocurrency maintained its recent gains as investors assessed a new U.S. ban on a central bank digital currency and a key federal banking approval for stablecoin issuer Circle.
The leading cryptocurrency is on pace for a weekly gain after a rally in technology stocks improved broad risk appetite, helping markets shrug off earlier geopolitical concerns.
Bitcoin remained stable over the weekend, trading above $64,000 as investors assessed geopolitical risks in the Middle East and turned their attention to regulatory developments in Washington.
