Bitcoin Edges Lower After Trump Rejects COVID-19 Stimulus Package

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An overnight rally in the Bitcoin market paused midway as Donald Trump rejected a nearly $900 billion stimulus bill that passed both the Democrat-controlled House and the Republican-held Senate. The bitcoin-to-dollar exchange rate slipped 1.13 percent to $23,554 in the pre-European session Wednesday. Traders apprehensively reduced their exposure to the cryptocurrency, anticipating that a delayed stimulus package would aid the US dollar’s rebound. The greenback is trading above its two-year low. A Delayed Bill Technically, Bitcoin’s price moves appeared choppy. The flagship cryptocurrency kickstarted the week in a negative area on profit-taking sentiment. It also plunged as the news of a new coronavirus mutant turned investors to the US dollar’s safety. Bitcoin fell alongside global stocks and gold. Bitcoin trades turn choppy in the new week. Source: BTCUSD on TradingView.com But on Tuesday, its price pared the week-to-date losses by rebounding by 4.81 percent. The retracement came as the US…

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