From Investing.com: 2024-05-24 02:02:00

Bitcoin price fell on Friday as U.S. interest rate concerns overshadowed ETF approval for Ether. Bitcoin traded in a $60,000 to $70,000 range all week, losing gains on Thursday and Friday. Price fell 3.2% to $67,215.9 in the past 24 hours.

Ether fell 1.2% to $3,748.97 post-SEC approval of spot ETFs. Up 21% over a week, exchanges including Nasdaq, CBOE, and NYSE approved. SEC to further engage with fund managers like VanEck and ARK for spot ETF listing. Rumored approval boosted Ether prices, with actual event showing gains.

US rate fears drive down crypto market optimism. Federal Reserve signaling high for longer rates due to inflation concerns. Traders now expect no rate cuts this year, pricing in equal chance of hold or hike in September. Crypto sector struggles in high-rate environments, leading to price drops in major tokens.

Bitcoin and Ethereum fell 5.7% and 0.5% respectively, while meme tokens like fell 3.9% and 0.3%. Dollar rebound and high for longer rate fears pressured crypto markets. Traders cautious following Fed signals, monitoring for any potential rate hikes or holds.

Read more at Investing.com: down to $67k as rate fears offset spot Ether ETF approval By Investing.com