Bitcoin Rips Back Above $80,000 and These 5 Altcoins Went Vertical
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Bitcoin Rips Back Above $80,000 and These 5 Altcoins Went Vertical
Why Did Bitcoin Suddenly Jump Back Above $80,000? Nobody was positioned for this one. The week handed the market three headlines that should have crushed it: a Fed rate hike, a Bank of Japan rate hike, and a failed crypto bill. The Clarity Act stalled in the Senate and pushed Bitcoin as low as...
As the U.S. Federal Reserve (Fed) raised its benchmark interest rate by 25 basis points (1 bp = 0.01 percentage point) for the first time in 3 years and 2 months, interest rate pressure on the U.S. stock market is increasing again.
Despite the Fed's interest rate hike, Bitcoin surged above $80,000 on Friday, reaching its highest level in two weeks. This marks the first time the cryptocurrency's market capitalization has reached this level in a long time.
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