Bitcoin hovers near $65,000 as inflation concerns cap gains

Bitcoin traded near $65,000 on Friday, with gains limited by inflation concerns and uncertainty over the U.S. Federal Reserve’s interest-rate outlook despite continued investor demand for spot bitcoin exchange-traded funds.

The world’s largest cryptocurrency was trading around $64,900-$65,100, down about 1% over the previous 24 hours. Analysts said strong inflows into bitcoin ETFs continued to support the market, but macroeconomic concerns kept prices under pressure.

N.Tebrizli