Bitcoin is currently trading within a tight range of around $68,000, having experienced a strong performance in May with an 11% increase. Ethereum's price surge of 31% is attributed to shifting sentiments regarding the approval chances of an ETF for the asset.
The stability in Bitcoin's price this week, fluctuating between $67,000 and $69,000, reflects market uncertainty amidst growing concerns about cryptocurrencies' risky nature and the recent economic data showing signs of inflation.
US economic indicators, such as the Core PCE Price Index and the Chicago Purchasing Managers Index, have further contributed to the muted movements in Bitcoin. The upcoming reports on National Purchasing Managers' Index and Non-Farm Payrolls are expected to provide clarity on the economic situation.
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