Bitcoin price today: down to $67k as rate fears offset spot Ether ETF approval

Investing.com-- Bitcoin price fell on Friday, pulling back even further from highs hit earlier in the week as concerns over high for longer U.S. interest rates largely offset a key development in the U.S. approval of exchange-traded funds that directly track Ether.

The SEC approval applications from the Nasdaq, CBOE and the NYSE to list ETFs that will directly track the price of Ether. Rumblings of the SEC’s approval had boosted Ether prices through the week, with the actual event sparking fleeting gains in the token.But fears of high for longer U.S. interest rates were a key point of pressure on crypto markets, especially as hawkish signals from the Federal Reserve showed increasing anxiety amid policymakers over sticky inflation.

This saw traders largely price out expectations for any rate cuts this year. Traders were seen pricing in a nearly equal probability of rate cut or a hold in September, at around 46%, according to the

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