From Investing.com: 2024-06-14 02:42:21

Bitcoin prices remained steady in Asian trade on Friday as traders moved towards the greenback amid forecasts for fewer interest rate cuts by the Federal Reserve. Despite progress towards a spot Ether exchange-traded fund, broader cryptocurrency prices retreated, with Bitcoin falling 0.9% to $67,030.4.

Bitcoin headed for weekly losses as fears of high interest rates grew, with the cryptocurrency trading down 3.3% over the past seven days. The Fed’s revised forecast for only one interest rate cut this year, compared to previous expectations for three cuts, caused traders to reevaluate their expectations and pivot towards the dollar.

Ether showed little enthusiasm despite progress towards a spot ETF, with broader cryptocurrency prices trading in a flat-to-low range. Ether rose 0.2% to $3,515.79, while other altcoins such as Binance Coin and Solana fell more than 2%. The outlook for spot Ether ETFs to be fully approved by the regulator by summer provided some positive momentum.

Read more at Investing.com: flat at $67k as rate fears favor dollar By Investing.com