A Big Glitch Appears in Bitcoin Bullish Bias: Rising Rate Hikes Bets

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There are more traders now that prefer to hold Bitcoin than selling it to realize earlier profits. It is indicative of a major price boom ahead for the flagship cryptocurrency, which has already surged by almost 1,380 percent from its 2020’s nadir of $3,858 (data from Coinbase). Bitcoin Rise to Glory Lower interest rates have provided one of the most strengthening bullish tailwinds to the Bitcoin market. It shows that banks could borrow cheaper capital from the Federal Reserve. In turn, that made the prospect of injecting liquidity into the economy higher. The US dollar resultantly risked being oversupplied. So, its value fell all across 2021. Bitcoin rose because of its anti-fiat narrative. Investors perceived it as a haven against a dwindling dollar, citing its limited supply cap of 21 million tokens against an unlimited greenback. Billionaire hedge fund managers Paul Tudor Jones, Stan Druckenmiller, and Scott Minerd said that…

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