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Bitcoin Price Braces for More Gains
The price of Bitcoin made a bullish breakout after the soft US inflation numbers sparked a risk-on sentiment in the financial market. The BTC/USD pair surged to a high of 66,000, its highest swing since April 24th. Risk-on sentiment has prevailed Bitcoin jumped sharply after a report revealed that inflation moderated in April, raising the probability that the Fed will start cutting rates later this year. As a result, the fear and greed index rose to 52, up from this week’s low of 49. Also, the US dollar index tumbled to its lowest swing in over a month while American stocks surged to their highest levels on record. ... (full story)