Bitcoin on track to end week 2.9% higher, as Fed holds interest rate steady

Bitcoin is on track to post a weekly gain of ~2.9%, in a week that saw the Federal Reserve strike a surprisingly more hawkish tone after it left its policy interest rate unchanged at 5.25%-5.50%. The first ever cryptocurrency, touched $43,011 at 5:01 pm ET, but remained below the $49K mark reached a day after the Securities and Exchange Commission approved 11 ETFs tracking the price of the token. SA contributor Kennan Mell said he expected Bitcoin’s (BTC-USD) recovery from the sell-off after spot ETFs’ approval to be quicker than prior sell-offs primarily due to upcoming halving events, potential rate…