Bitcoin rose 0.4% to $66,116.4 by 01:46 ET (05:46 GMT) on Tuesday, stabilizing after recovering some ground in recent sessions. Risk appetite had improved following news that the United States and Iran had agreed to a deal aimed at ending their war and reopening the Strait of Hormuz.<\/p>\n
The two sides are expected to sign a memorandum of understanding on Friday. According to reports, the agreement includes halting hostilities, reopening the Strait of Hormuz, lifting a U.S. naval blockade against Tehran, and holding further talks on Iran\u2019s nuclear activities. Market participants were waiting for more details on the deal, keeping trading activity in Bitcoin relatively subdued.<\/p>\n
Attention is also centered on the Federal Reserve\u2019s interest rate decision on Wednesday, the first policy meeting under new Chair Kevin Warsh. The central bank is widely expected to leave rates unchanged. Investors are closely monitoring the Fed\u2019s outlook on interest rates and the U.S. economy, particularly given disruptions linked to the Iran conflict.<\/p>\n
A recent interest rate hike and a hawkish policy outlook from the Bank of Japan added to a more cautious tone in global markets, further weighing on sentiment toward risk assets such as cryptocurrencies.<\/p>\n
Spot Bitcoin ETFs continued to see outflows at the start of the week, limiting the scope for a stronger recovery in crypto prices. On Monday, investors withdrew $64.09 million from spot Bitcoin ETFs, according to SoSoValue data. This follows five consecutive weeks of outflows, during which investors have been shifting away from crypto and into sectors viewed as having clearer fundamentals, such as artificial intelligence stocks.<\/p>\n
Broader crypto markets moved mostly higher on Tuesday but showed only a modest recovery amid the lack of strong positive catalysts for the sector. Ether, the second-largest cryptocurrency by market capitalization, rose 2.6% to $1,763.39. XRP gained 3.8% to $1.2274, while Solana advanced 3.4%.<\/p>\n
Other major tokens were weaker. Cardano declined 2%, and BNB slipped 0.5%. Among memecoins, Dogecoin fell 1.6%, and $TRUMP dropped 4.3%, underscoring the uneven nature of the market\u2019s rebound.<\/p>\n","protected":false},"excerpt":{"rendered":"
Bitcoin holds near $66,000 ahead of key Fed meeting Bitcoin rose 0.4% to $66,116.4 by 01:46 ET (05:46 GMT) on Tuesday, stabilizing after recovering some ground in recent sessions. Risk appetite had improved following news that the United States and Iran had agreed to a deal aimed at ending their war and reopening the Strait […]<\/p>\n","protected":false},"author":7,"featured_media":10301,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[18],"tags":[],"class_list":["post-10302","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news"],"_links":{"self":[{"href":"https:\/\/otetmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/10302","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/otetmarkets.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/otetmarkets.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/otetmarkets.com\/blog\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/otetmarkets.com\/blog\/wp-json\/wp\/v2\/comments?post=10302"}],"version-history":[{"count":1,"href":"https:\/\/otetmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/10302\/revisions"}],"predecessor-version":[{"id":10303,"href":"https:\/\/otetmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/10302\/revisions\/10303"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/otetmarkets.com\/blog\/wp-json\/wp\/v2\/media\/10301"}],"wp:attachment":[{"href":"https:\/\/otetmarkets.com\/blog\/wp-json\/wp\/v2\/media?parent=10302"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/otetmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=10302"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/otetmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=10302"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}