Bitcoin Hits 12-Week Low as Fed Rate Fears Undo Most of Summer Rally
Summary
Bitcoin recently dropped to a twelve-week low, erasing a significant portion of its summer gains. This downward movement stems from ongoing concerns about inflation, potential interest-rate increases by the Federal Reserve, and capital outflows from exchange-traded funds.
Bitcoin is back near August levels as persistent inflation, growing expectations of another interest-rate hike and ETF withdrawals pressure prices.
Source: Read the full story at Decrypt
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