#BitcoinPrice Today: Flat At $69k Amid Fed Concerns, Spot Ether ETF

The price of $BTC was flat on Thursday as the crypto's recent rally, driven by the potential of Ether spot exchange-traded funds, was disrupted by concerns over high US interest rates.

This jitters sparked a strong rise in the dollar overnight, which put downward pressure on crypto prices overall. Bitcoin fell 0.3% in the last 24 hours to $69,418.9 as of 01:21 ET (05:21 GMT). The world's largest cryptocurrency returned to the trading range seen over the past two months, after a brief breakout earlier this week.

$ETH the world's no.2 token, hovering around a two-month high reached earlier this week, retained most of the gains made from hype over the potential approval of an Ether spot ETF for the US market. The Securities and Exchange Commission (SEC) will make a decision on the matter as soon as Thursday or Friday.

Spot Ether #ETF✅ Dominates Market Focus

Ether rose slightly over the last 24 hours to $3,776.69. The token marked a strong rally this week after reports on Monday said the SEC had asked certain exchanges to refine their applications for Ether spot ETFs. While this move shows some progress toward approval of spot ETFs, there is no guarantee that they will be approved.

The SEC will now decide on applications for spot Ether ETFs from VanEck, ARK Investment Management, and seven other issuers later Thursday or Friday. The approval of an Ether spot ETF could invite more capital flows into the crypto market, similar to the approval of a spot Bitcoin ETF earlier this year.

Crypto Prices Today: Exchange Rate Anxiety Increases, Prices Slump

The broader cryptocurrency market unwound most of the gains made earlier this week, as concerns over a prolonged period of high US interest rates increased following some hawkish signals from the Federal Reserve.

Source: Investment