Bitcoin price today: climbs for 3rd straight day to $98.3k; macro worries persist

Bitcoin climbed more than 1% for the third consecutive day on Friday and was set to end the week in positive territory as some investors shrugged off fears related to U.S. tariffs, although they were still concerned about the Federal Reserve’s interest rate outlook The world’s largest cryptocurrency rose 1.3% to $98,304.0 by 10:29 ET (15:29 GMT). The cryptocurrency, which has struggled to break out of its recent consolidation phase, was set to gain nearly 1% this week. Gains were capped as the Fed has maintained its stance that it was in no rush to reduce interest rates this year, citing sticky inflation. Higher interest rates and elevated inflation levels typically spark liquidity fears, pushing market participants away from speculative assets like crypto. Hawkish Fed outlook keeps Bitcoin range-bound Governor Adriana Kugler stated on Thursday that the central bank should maintain its current short-term borrowing rate in the range of 4.25% to 4.50% for some time to address elevated inflation. The Fed's decision to keep interest rates elevated aims to temper economic activity and control inflation. However, this approach can have a cooling effect on speculative investments, including cryptocurrencies. While the Federal Reserve's stance on interest rates remains a critical factor for financial markets, Bitcoin's current performance indicates a complex interplay of influences. Analysts believe that investors are weighing the potential for long-term gains against the backdrop of monetary policy and economic indicators. US SEC to entirely drop lawsuit against Coinbase (NASDAQ:COIN), crypto exchange says The U.S. Securities and Exchange Commission (SEC) plans to drop its lawsuit against Coinbase, the crypto exchange said on Friday, potentially marking a major shift in its stance on crypto regulation. The lawsuit, once seen as a significant threat to the exchange and the broader industry, is part of a broader policy shift under the SEC’s new Republican leadership.