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Bitcoin Rallies On Weak USD
USD Retreating Bitcoin prices are continuing to grind higher on Friday, benefiting from the USD weakness we’ve seen on the back of yesterday’s weaker-than-forecast US jobs data. BTC futures are back above the $60k mark, carving out a potential triple bottom with strong bullish divergence in momentum studies, suggesting potential for a fuller correction higher here. Fed Expectations The shift in USD this week has the potential to help Bitcoin recover if we see USD rate expectations cooling further. Yesterday’s heavy downside miss on the NFP has seen market pricing for a rate hike by year end falling below 80%. ... (full story)
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