Bitcoin edges up to $64.3k; Iran, rate jitters weigh on crypto

Bitcoin's price edged up to $64.3k on Tuesday, but the crypto market remained cautious due to ongoing U.S.-Iran tensions and concerns over inflation and interest rates. Bitcoin climbed 1.4% to $64,307.3 by 05:00 ET. The uncertainty surrounding the U.S.-Iran conflict, particularly regarding the Strait of Hormuz, and the potential impact on energy-driven inflation and rising interest rates, contributed to the market's cautious sentiment.

The Clarity Act, a significant U.S. regulatory bill, faced delays, further weighing on crypto markets. President Donald Trump was set to attend a White House meeting of his administration's new innovation committee on Wednesday, along with crypto and AI industry leaders, to discuss crypto regulation ahead of a follow-up session at the Commodity Futures Trading Commission.

Other major cryptocurrencies like Ether and memecoins such as Dogecoin also saw modest gains on Tuesday.