Bitcoin Rally Loses Momentum as Expectations for Fed Shift Eases

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Bitcoin’s two-day resurgence ran out of steam after strong economic data dashed hopes for a relaxation in hawkish central bank policies

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Bitcoin, the largest digital coin by market value, dipped as much as 2.9% on Wednesday to trade as low as $19,752, before trading little changed. That’s a reversal from the prior day’s trading, when Bitcoin moved above $20,000 to gain alongside the S&P 500 Index. US stocks also slumped on Wednesday, dropping as much as 1.8% after a two-day rally.

 

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Of Course it did. Crypto is tied to market and sovereign currency valuation, not the other way round.

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