A Sip of Reality

Bitcoin Price Plunges 10% Amidst Fed Rate Hike Concerns


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Bitcoin's price recently fell 10%, dropping below $93,000. This decline is attributed to stronger-than-expected U.S. economic data, which lessened expectations of Federal Reserve interest rate cuts. Analysts link this to a rise in U.S. Treasury yields, which typically negatively impacts risk assets like Bitcoin. The article includes expert opinions from several financial analysts supporting this view, and also highlights upcoming economic data releases that could further influence Bitcoin's price. Future rate cuts and inflation data will be key factors in determining Bitcoin's future price trajectory.

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