Crypto News

5% on Friday, bringing its total weekly decline to 8%. Concerns over Interest Rates Impact Bitcoin Price The recent dip in Bitcoin's price can be attributed to growing concerns about rising interest rates in the United States. The U.S. government has indicated that it may increase interest rates to combat inflation, which has caused investors to become more cautious and shift their focus away from riskier assets like Bitcoin. This has put downward pressure on the cryptocurrency's price, as investors fear a decrease in demand. Approval of Ether ETFs Boosts Market Sentiment Amidst the dip in Bitcoin's price, the Securities and Exchange Commission (SEC) approved two exchange-traded funds (ETFs) that directly track Ether, the second-largest cryptocurrency by market capitalization. This is a significant development for the cryptocurrency industry, as it opens up more opportunities for investors to gain exposure to the digital asset. The approval of ETFs for other cryptocurr...