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Bitcoin’s Longest Losing Streak of 2024 Casts Cloud Over Crypto

From bnnbloomberg.ca

Bitcoin is grinding lower as part of a $500 billion slide in digital assets, stoking questions about whether the crypto rebound has peaked. The token is flirting with five straight days of declines, which would be the longest such losing run since October last year. The overall crypto market has tumbled 17% to $2.4 trillion in the wake of Bitcoin’s mid-March record high of $73,798, according to data compiled by CoinGecko and Bloomberg News. Fizzling inflows into US spot-Bitcoin exchange-traded funds and the prospect of higher-for-longer Federal Reserve interest rates are together subduing digital assets. Last week’s ... (full story)

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  • Category: Fundamental Analysis