Bitcoin remained close to $64,000 on Monday after a weekend of sharp price swings driven by developments involving the United States and Iran.
The world’s largest cryptocurrency was trading around $64,217, while Ethereum held near $1,747. Bitcoin briefly fell to about $63,300 as uncertainty around peace talks increased, but later recovered and moved back into its recent trading range.
Traders are closely watching the $62,000 level as a key support area, while many believe Bitcoin needs to move above $67,000 to signal stronger upward momentum. The total cryptocurrency market remained steady at around $2.29 trillion, showing stability but limited buying interest.
This week, investors are focused on several major U.S. economic reports that could influence market direction. The most important is the Personal Consumption Expenditures (PCE) inflation report, which is the Federal Reserve’s preferred measure of inflation. A higher-than-expected reading could reduce hopes for interest rate cuts and put pressure on risk assets such as cryptocurrencies.
Other important reports include business activity data, new home sales figures, GDP growth numbers, and consumer sentiment readings. Together, these reports will give investors a clearer picture of the U.S. economy.
Geopolitical tensions are also keeping traders cautious. Concerns about relations between the United States and Iran continue to influence global markets, especially oil prices. Any increase in tensions could raise inflation concerns and create additional uncertainty for investors.
Bitcoin is also facing pressure from continued outflows from U.S. spot Bitcoin ETFs. Large withdrawals from these investment products suggest some investors are reducing their exposure, removing a source of support that helped fuel previous rallies.
Meanwhile, major altcoins remained relatively stable. Ethereum stayed near $1,750, Solana traded around $75, BNB hovered near $600, and XRP remained below $1.15.
For now, market participants are watching four key factors: inflation data, economic growth figures, developments in the Middle East, and ETF fund flows. Positive economic data and improving market sentiment could help Bitcoin move back toward $67,000. However, higher inflation or rising geopolitical tensions could push prices lower and bring the $62,000 support level back into focus.
At the moment, the crypto market appears stable, but investors remain cautious as they wait for the next major catalyst.
