From Investing.com: 2024-05-22 02:05:58

Bitcoin prices fell slightly as traders locked-in gains from a recent rally, with anticipation of U.S. interest rate cues. Ether steadied at a two-month high ahead of a SEC decision on spot ETFs, rising 3% to $3,755.37. Warning on U.S. inflation and interest rates kept traders cautious, with Bitcoin falling 1.5% to $69,880.1.

SEC progress on spot Ether ETFs boosted Ether prices, with a 3% rise to $3,755.37. The SEC requested exchanges to adjust filings for spot Ether ETFs, hinting at potential approval. Analysts see a higher chance of approval sparking a crypto rally similar to Bitcoin ETF approval earlier this year.

Bitcoin struggled to hold gains, reaching $71,000 before retreating back into the $60,000-$70,000 range. Sentiment remained cautious due to concerns over U.S. interest rates. Fed officials are awaiting more confidence in lower inflation before considering rate cuts, impacting the crypto market.

Altcoin prices cooled as Bitcoin retreated, with Ether remaining popular. Ethereum fell 0.2%, while Litecoin dropped 0.5%. Meme coins like Dogecoin rose 3.1% and Shiba Inu increased by 1%, while Tether maintained stability in the market.

Read more at Investing.com: dips to $69k, but Ether holds gains on ETF hype By Investing.com