Bitcoin retreats after MicroStrategy bump with risk assets in view

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Bitcoin could face downside pressure from improved inflation and GDP readings causing investor flight from risk assets and into traditional markets, analysts said.

Robust economic readings

Michael Dunn of Bitnomial Exchange concurred with this forecast, stating that"U.S. economic activity might propel the Federal Reserve’s drive towards elevated interest rates and constricted credit, applying downward pressure on bitcoin’s potential for price appreciation."

 

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