Bitcoin hovers above $64,000, with Strait of Hormuz agreement in focus

Bitcoin rose slightly on Wednesday, continuing a modest rebound, as market expectations that an agreement to reopen the Strait of Hormuz will be reached continue to heat up.

However, as the world's largest cryptocurrency by market capitalization, Bitcoin is still fluctuating within a narrow range. This is because the encryption market has recently suffered a high-profile hacking incident, and Strategy, the largest corporate holder of cryptocurrency, has also continued to reduce its holdings of Bitcoin.

Bitcoin rose 0.9% to $64,181.6, with quotes at 5:53 a.m. Eastern Time (17:53 Beijing time)