Bitcoin

Bitcoin climbed above $64,000 on Tuesday, rising over 1% on the day and marginally higher on the week, making it the only major cryptocurrency with a meaningful gain while the rest of the market drifted lower.

Bitcoin traded near $64,100 on Tuesday, up 1% on the day and holding above $64,000 even as rising bond yields and climbing oil drained appetite for risk assets, according to CoinDesk data.

Bitcoin hovered near $63,500, appearing stuck in summer doldrums, but the flow picture beneath the surface has quietly turned bullish, according to Yusuf Fakhro, partner at ARP Digital.

Goldman Sachs has thrown cold water on expectations for a September interest-rate increase from the Federal Reserve, a development that could provide a major tailwind for bitcoin and other risk assets.

Bitcoin hovered near the $64,000 mark in Asian morning hours on Monday, gaining half a percent on the day but remaining down almost 3% over the past week.