Opinion: Fed's hawkish stance makes Bitcoin traders cautious
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Odaily Odaily News: The Federal Reserve's unexpectedly hawkish stance last week halted Bitcoin's post-election rally, with Bitcoin recording its first weekly decline since Trump's victory in early November. The Fed indicated that it would cut interest rates twice next year, compared with four previous expectations. This shift has caused investors to reassess their positions in speculative assets such as Bitcoin, causing its price to fall. Cryptocurrency investor Scott Melker said, "This also shows that traders are mainly focused on profit-taking rather than aggressive selling." (Jinshi)
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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