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Bitcoin Snaps Two-Day Slide Amid Renewal of Risk Appetite

From bnnbloomberg.ca

Bitcoin halted a two-day slide with renewed expectations for US interest rate cuts fueling demand for riskier assets. The largest cryptocurrency gained as much as 3.5% to $69,642 as signs that inflation is cooling bolstered bets the Federal Reserve will cut rates this year. Smaller cryptocurrencies such as Ether, Solana and Dogecoin also rallied. “FalconX saw significant buying through both the spot and derivatives desks during the 3+% sell off yesterday,” said Ravi Doshi, head of market at the prime broker FalconX. “Those bets paid off.” Shares of crypto-related companies also gained. Crypto exchange Coinbase Global ... (full story)

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  • Category: Fundamental Analysis