From Investing.com: 2024-05-28 01:30:38

Bitcoin price fell slightly as traders remained cautious ahead of key inflation data, with Ether also cooling. SEC approval for an Ether ETF took a back seat amid rate fears. Bitcoin dropped 1.3% to $67,901.9, while Ether sank 2% to $3,844.48 from recent highs. Crypto prices saw little movement with low trading volumes.

Fears of long-term high U.S. interest rates intensified as investors awaited key inflation readings, impacting Fed’s rate outlook. Speculative assets like crypto faced pressure as officials warned of persistent inflation. This kept Bitcoin and Ether within existing trading ranges. High rates limit liquidity for crypto investments, favoring low-risk assets.

Market sentiment towards crypto and riskier assets waned as rate hike concerns escalated, influencing trading volumes and price movements. Altcoins like and saw marginal increases, while meme tokens like and traded flat to slightly down. The subdued market conditions coincided with holidays in the U.S. and the UK.

Read more at Investing.com: drops to $67k on inflation fears, Ether rally cools By Investing.com