Bitcoin price remains stable despite Fed's plan for longer high interest rates, with inflation cooling.

From Investing.com: 2024-06-13 02:21:34

Bitcoin price remained steady despite volatility following the Federal Reserve’s announcement of high for longer interest rates, overshadowing cooling inflation. The token rose 0.4% to $67,484.6 in 24 hours. Fed Chair Powell forecasted only one rate cut this year, affecting crypto markets due to limited liquidity. Focus now shifts to U.S. inflation data for more cues.

Cryptocurrency prices, including Ethereum and Binance Coin, drifted lower as concerns over high U.S. interest rates persisted. Ethereum fell 0.3% to $3,499.09, erasing previous gains. Despite some altcoins rising between 0.6% to 1.7%, meme tokens like Floki Inu and Shiba Inu were losing appeal amid waning interest in meme stocks like GameStop Corp.

Read more at Investing.com: flat at $67k amid rate cut cues, softer inflation By Investing.com