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declined sharply in the overnight session. This decline coincided with the overall sell-off of other assets like stocks. The Dow Jones declined by over 500 points while the S&P 500 and Nasdaq 100 indices fell by over 1%.
Second, stocks and Bitcoin prices retreated as investors watched the American bond market. The bond sell-off that started a few weeks ago continued this week, with the 10 and 30-year yields jumping to the highest level in two years. Another reason why the BTC/USD pair has retreated is that investors are generally fearful about the market. The crypto fear and greed index has slumped to the lowest level in months.The daily chart shows that the BTC/USD pair has been in a strong bearish trend in the past few days.
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