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Bitcoin (BTC) Price Pulls Back Below $67K as Crypto Rally Cools

21 October 2024
in Blockchain
Reading Time: 1 mins read
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Bitcoin (BTC) Price Pulls Back Below K as Crypto Rally Cools
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Checking possible catalysts for today’s action, one need look no further than the recent price movement: bitcoin had risen in near-continuous fashion since dipping to just under $60,000 eleven days ago – a modest reversal was surely in the cards at some point. There’s also been a sharp rise in interest rates across Western economies on Monday, among them 10 basis point gains in both the U.S. 10-year Treasury yield and the German 10-year Bund yield. Other things being equal, higher rates can often pressure prices of risk assets, bitcoin among them.

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