Today’s Bitcoin price: constant at 67,000. dollars, further Fed signals are in focus

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Investing.com – Bitcoin’s price moved little on Monday after rebounding over the weekend, although the token remained rangebound amid continued caution about the outlook for U.S. interest rates.

The rate was little changed over the last 24 hours and stabilized at USD 67,148.4 by 01:01 ET (05:01 GMT). The stock continued to hold steady in the $60,000 to $70,000 price range established since mid-March, with few catalysts available for an immediate breakout.

Bitcoin appetite has also been overshadowed by stellar growth in metals markets. The combination of safe-haven demand and long positioning hit record highs on Monday.

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Bitcoin range in sight, and more Fed signals in sight

The focus this week has been largely on more signals coming from the Federal Reserve that will likely impact the interest rate outlook.

The Fed’s meeting scheduled for tardy April will be held next Wednesday, and a number of Fed officials, mostly members of the rate-setting committee, will be speaking this week.

Any further signals on interest rates will largely focus on attention after some gentle inflation readings for April put market attention squarely on a September rate cut. However, Fed representatives warned that the bank needed to be more convincing that inflation was falling.

The rate has also stabilized after last week’s losses, limiting any major gains in Bitcoin. Fear of potential geopolitical instability in the Middle East after the death of Iran’s president and foreign minister in a helicopter crash also curbed risk appetite, with investors gravitating toward protected havens such as gold and the dollar.

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This comes amid dwindling capital flows into cryptocurrency investment vehicles as the hype around Bitcoin spot funds introduced earlier this year has faded.

Cryptocurrency Price Today: Altcoins Track Bitcoin’s Subdued Moves

Most major altcoins also traded in a flat-to-low range on Monday, tracking muted moves in Bitcoin as sentiment remained subdued.

The world’s No. 2 token rose 0.4% to $3,132.04, while falling 0.8%. increased by 1.7%.

Memecoins fell 2.9% and 0.7%, respectively.

Altcoins have struggled for popularity in recent months as the majority of crypto capital flows have remained largely targeted towards Bitcoin. Potential regulatory moves by the Securities and Exchange Commission against Ethereum have also reduced appetite for altcoins.

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