From Investing.com: 2024-06-20 07:02:27

Bitcoin price rose slightly on Thursday amidst concerns about high interest rates and global economic health. By 06:57 ET, Bitcoin was up 0.8% to $66,031.2, still down 2.8% for the week.

The higher U.S. borrowing costs narrative is limiting Bitcoin’s potential gains, with investor enthusiasm for riskier assets dampened. The Fed now forecasts only one interest rate cut this year, strengthening the U.S. dollar and reducing the appeal of Bitcoin.

On the bright side, BTC could rebound towards $67,000, with a resistance level at $69,500. The $65,000 mark is considered a key psychological support level.

Altcoins like Ethereum and Binance Coin also saw small increases, while Dogecoin dropped. Meme tokens Shiba Inu and Dogelon Mars edged up slightly.

Bernstein analysts raised their Bitcoin price target to $200,000, citing positive surprises from Bitcoin ETF flows. They believe institutional interest in Bitcoin and crypto-related stocks will grow with diminishing regulatory concerns.

Read more at Investing.com: up to $66k but sentiment still muted amid rate jitters By Investing.com