Investing.com– price climbed slightly on Thursday, offering some relief to investors as risk appetite remained largely frail amid uncertainty over U.S. interest rates, while signs of easing capital flows also weighed.
The world’s largest cryptocurrency rose 0.6% in the past 24 hours to $66,531.0 by 08:34 ET (12:34 GMT), though still well below record highs hit in March.
Bitcoin remained largely rangebound in recent sessions as mixed cues on U.S. interest rate cuts kept traders largely wary of making big bets. Anticipation of key U.S. nonfarm payrolls data due later in the week also deterred big trades.
The token took little support from the weakness in the dollar, which tumbled from recent five-month highs after Federal Reserve Chair Jerome Powell offered middling cues on interest rates. While Powell said the bank still supported cutting interest rates eventually in 2024, he gave scant cues on the timing and scale of the cuts.
Powell also said the…
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