Bitcoin Weekly Outlook: Milder Swings Expected Around FOMC Minutes

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Bitcoin (BTC/USD) is paring a portion of its recent gains entering the new weekly session, trading just a little over $57,000 after breaching $60,000 last week. Bitcoin bullish bias weakens near $60,000. Source: BTCUSD on TradingView.com Investors have shifted their focus on the minutes from the Federal Reserve’s March meeting, coming out Wednesday in a relatively quiet macroeconomic week. The question remains how the US central bank would react to rising interest rates in the bond markets. A rate hike proposal could erase some gains off the Bitcoin market, which exploded against an ultra-loose policy environment. Lower benchmark rates sap investors’ appetite for government bonds for returning dismissing yields. As a result, the United States attracts less foreign capital, which, in turn, hurts the US dollar demand. Additionally, the prospect of rising government debts also shifts investors to riskier alternatives, benefiting riskier assets like bitcoin. So far, the cryptocurrency’s hardcore…

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