Bitcoin price today; recovers to $67,000, but gains are limited by interest rate fears. From

[ad_1] – Bitcoin price rose on Friday as the world's largest cryptocurrency clawed back some of its recent losses, although the recovery was largely tempered by continued uncertainty over U.S. interest rates.

rose 3.3% in the last 24 hours to $67,615.0 as of 01:09 ET (05:09 GMT). The token had fallen as low as $64,000 earlier in the week as overall risk appetite waned.

An earthquake in Taiwan, worsening geopolitical tensions in the Middle East and the threat of longer-term higher U.S. interest rates kept traders largely focused on the dollar and other safe-haven assets.

The advance rose on Friday but remained within sight of record highs reached earlier in the week.

A series of hawkish statements from Federal Reserve officials also weighed on risk sentiment, as several central bank members warned that persistent inflation would prevent the Fed from cutting interest rates early.

Bitcoin price is set for a weekly loss as non-farm payrolls near

The world's largest cryptocurrency was down about 3% over the past five days, threatening a weekly loss.

After hitting a record high of over $73,000 in March, Bitcoin fluctuated within a limited trading range. This downturn coincided with weakness in the US stock market and other key risk assets, which resulted in a weak start to the second quarter.

Capital flows into the recently approved Bitcoin exchange-traded funds, as well as trading activity in the space, have also slowed in recent weeks.

While ETF approval was a key driver of Bitcoin's gains earlier this year, this trend now appears to be losing steam.

The focus now turned to data later on Friday, which is widely expected to influence the outlook for US interest rates. Longer-term higher interest rates do not bode well for Bitcoin, which typically thrives in markets with low interest rates and high liquidity.

Crypto Prices Today: ETH lags, XRP recovers from 1-month low

Among other things, cryptocurrency prices fell 0.8%, underperforming their peers, as the Securities and Exchange Commission prepared its decision on spot ETFs for the world's second-largest cryptocurrency.

The SEC also investigated whether Ethereum can be classified as a security.

Among other things, units recorded a 1.8% increase, rebounding from a monthly low hit earlier this week. However, the token's outlook remains bleak as the SEC's proceedings are now set to continue in April.


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