Bitcoin Defies Geopolitical Turmoil at $64K as Ethereum Gains Ground

Bitcoin traded near $64,000 over the weekend despite renewed US-Iran military strikes that rattled global markets. The cryptocurrency market displayed selective risk appetite as it absorbed the geopolitical shocks more readily than in previous cycles.

Ethereum continued to gain relative strength, with analyst Michaël van de Poppe forecasting Bitcoin's market dominance could fall below 55%. This week's CPI report and Federal Reserve Chair Kevin Warsh's Congressional testimony are expected to be key catalysts, with economists raising their year-end inflation forecasts amid elevated energy prices tied to the Middle East conflict.

US spot Bitcoin ETFs recorded their first weekly net inflow since early May at $197.4 million, though corporate sales by MicroStrategy and Empery Digital totaling $303.1 million offset those gains.