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The cryptocurrency market has witnessed a recent downturn, with the Crypto Market Cap (TOTALCAP) breaking down from a parallel channel. Bitcoin (BTC) and SUI also faced setbacks after rejections. In today’s news, we explore the reasons behind this decline and provide insights into potential scenarios for the market’s future.
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Last week was the 13th anniversary of something extraordinary happened that would make you question everything you know about money. It’s a story that involves 10,000 Bitcoins and two mouthwatering pizzas. Intrigued?
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Bitcoin’s price, the big kahuna of cryptocurrencies, is dancing just under $27,000. The U.S. Federal Reserve Chair, Jerome Powell, has hinted that the Fed might go easy on increasing interest rates because of some trouble brewing in the banking world. Moreover, the United States has maxed out its credit card, so to speak. The superpower has hit a debt ceiling of $31.4 trillion and needs more money.
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The world of cryptocurrencies, akin to a thrilling rollercoaster ride, is known for its high peaks of soaring values and deep troughs of crashing prices. Recently, the global crypto market cap dropped by 2.78%, and the pioneering cryptocurrency, Bitcoin, entered a bearish phase, reaching a 55-day low. This article takes you on a journey through this tumultuous landscape, offering insights into critical aspects.
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