Bitcoin Heads for Weekly Gain as Fed Hike Bets Cool

Bitcoin was set to close the week up about 2%, tracking a broader rally in risk assets as traders pared back bets on a Federal Reserve interest rate increase, according to market reports. The move ties crypto prices closely to the rates outlook heading into the next US inflation reading, which is expected to shape the Fed's near-term path. Easing hike expectations have generally supported longer-duration and higher-beta assets, including digital tokens. Separately, commentary from Ark Invest continued to circulate calling for substantially higher long-run bitcoin prices, though such projections are forecasts rather than market data.