Bitcoin breaks above $63,000 as markets scale back Fed rate hike bets — Reuters

Bitcoin gained ground across global cryptocurrency markets on Monday, August 17, climbing above the $63,000 threshold as investors reassessed the monetary policy outlook of the US Federal Reserve.

The world’s largest cryptocurrency was changing hands around $63,039 in early trading, Reuters reported. Ether, the second-largest token by market capitalization, rose 0.4% to trade near $1,889. Later in the session, bitcoin extended intraday gains by 0.9% to reach $63,450, navigating an intraday range of $62,746 to $63,570.

The broader digital asset sector found support as softer US economic prints reduced market expectations of a Federal Reserve benchmark rate increase at the upcoming policy meeting. Fed funds futures currently indicate a 70% probability that policymakers will leave interest rates unchanged. Despite the recovery, bitcoin remains well below its all-time high of over $126,000 set in October 2025 following a broad correction across the crypto complex earlier this year.

N.Tebrizli