(Bloomberg) -- Bitcoin is under pressure from a bout of risk aversion in global markets that saddled the largest digital asset with its heftiest weekly loss ...
-- Bitcoin is under pressure from a bout of risk aversion in global markets that saddled the largest digital asset with its heftiest weekly loss since the collapse of the FTX exchange in 2022.A Radical Fix for Britain’s Housing Crisis: A New Offshore City
Bitcoin exchange-traded funds in the US suffered their largest outflows in about three months on Aug. 2. The digital asset has also tumbled through its 200-day moving average price. Bitcoin has been buffeted by a range of factors since hitting a record of $73,798 in March, including shifting political fortunes in the US as pro-crypto Republican Donald Trump and Democratic opponent Vice President Kamala Harris — who has yet to detail a digital-asset policy stance — lock horns in the presidential race.
Bond traders have amplified bets on US interest-rate cuts beginning in September to support economic expansion. The recent upheaval in traditional markets “increases the likelihood of less restrictive monetary policy coming sooner rather than later — a good thing for crypto,” argued Sean Farrell, head of digital-asset strategy at Fundstrat Global Advisors LLC.
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