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Bitcoin Rallying As USD Drops
Following steady selling over recent months, Bitcoin bulls were given some sign of hop late last week as BTC futures jumped more than 7%. The rally comes amidst a weakening of the US Dollar as traders scale back their Fed rate projections on the back of the FOMC. The Fed paused its tightening campaign last week and despite signalling that further tightening might still be necessary, traders have taken the view that with inflation falling, the current pause is likely to extend. Against this backdrop, risk assets, including Bitcoin, have been able to recover. Additionally, BTC is also rallying due to the expectation ... (full story)