Bitcoin price is pinned at $65k amid uncertainty over U.S. interest rates and slowing ETF activity.

From Investing.com: 2024-04-04 02:07:14

Bitcoin price dipped slightly amid uncertainty over U.S. interest rates, trading at $65,525.6. Mixed cues on rate cuts and anticipation of key U.S. data kept traders cautious. The token lacked support from a weakening dollar after Fed Chair Powell hinted at future rate cuts but provided little clarity on timing and scale.

While Bitcoin remained rangebound, XRP dropped 2.4% and Ethereum rose 0.3%. Capital inflows favored Bitcoin, as data from CoinShares showed. Despite inflows resuming, ETF activity slowed down, with daily trading turnover down 36% from its peak. The approval of spot Bitcoin ETFs was a key driver of Bitcoin’s recent rally to record highs.

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