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Bitcoin falls to lowest level in nearly two months after Fed minutes dial up inflation concerns - TL;DR CNBC

Bitcoin falls to lowest level in nearly two months after Fed minutes dial up inflation concerns

Publishing timestamp: 2023-08-17 14:12:26


Summary

The article discusses how cryptocurrencies, including Bitcoin and other top crypto assets, are under pressure due to concerns about the U.S. economy. The release of the minutes from the Federal Reserve's July policy meeting, which highlighted potential risks to inflation and the possibility of more rate hikes, caused the slide in cryptocurrencies. The article also mentions the correlation between Bitcoin and stocks, the low volatility of Bitcoin and ether, and the setback in the debut of a spot bitcoin ETF. Overall, the article suggests that the current market conditions and the hawkish stance of the Fed are contributing to the pullback in cryptocurrencies.


Sentiment: NEGATIVE

Tickers: XRP.CM=SOL.CM=BTC.CM=ETH.CM=MATIC.CM=BNB.CM=

Keywords: solana/usd coin metricsbinance/usd coin metricsbreaking news: investingethereum/usd coin metricspolygon/usd coin metricsbitcoin/usd coin metricstechnologymarketsripple/usd coin metricsbusiness newsbitcoininvestment strategycryptocurrencybreaking news: marketsunited statesprices

Source: https://www.cnbc.com/2023/08/17/bitcoin-nears-2-month-low-after-fed-minutes-dial-up-inflation-worry.html


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