Bitcoin Holds the Line at $65K While Nvidia Takes the L 📉

Bitcoin held near $65,000 on Monday even as AI-linked equities sold off, with BTC trading at $64,438.51 and up roughly 4% since Friday, while ether (ETH) reached its strongest level in nearly two months. Nvidia fell 4.8% to lead the AI-related decline, though the Nasdaq stayed near flat as Apple, Microsoft and Google advanced. The ETH-BTC ratio climbed to a three-month high, with Fundstrat co-founder and Bitmine chairman Tom Lee pointing to ether's relative outperformance as a constructive signal for crypto markets.

Analysts said bitcoin needs to clear about $67,300 to exit the multi-week consolidation that has capped prices since June, with ether facing a comparable threshold at $2,000. "The recent resilience of crypto during periods of volatility in traditional markets is an encouraging development," said Joel Kruger, market strategist at LMAX Group. "It supports the argument that digital assets are beginning to decouple, at least at the margin, from conventional risk assets." Lee echoed that ether's relative strength is being read as a bullish sign for the broader crypto market.

Skeptics flagged weaker demand signals, noting that futures open interest has declined and ETF inflows have remained muted, conditions they said point to insufficient buying conviction. Nansen senior research analysts warned that without stronger demand, bitcoin risks pulling back toward the mid-$50,000s rather than sustaining a breakout. The Federal Reserve's policy decision, key U.S. inflation data and earnings from several major technology companies are all scheduled this week.

The Fed meeting, inflation prints and tech earnings are widely viewed as the catalysts that will determine whether bitcoin breaks higher from its months-long range or revisits the June lows. As of Monday's close, BTC remained range-bound around $65,000 with traders awaiting Wednesday's Fed decision and the subsequent inflation report before repositioning.