The BTC/USD attempted to stabilize during the American and Asian session after it plummeted to the lowest level since July last year.
Bitcoin is trading at $31,600, which is slightly above this week’s low of $29,800. So, will the US inflation data shift sentiment?has been in a strong downward momentum in the past few months as investors assessed the new normal as it relates to monetary policy. Investors are aware that the market is in uncharted territory considering that the Fed has not been this hawkish for years.
The same view was shared by other Fed speakers like Loretta Meister and John Williams. The three, who spoke on Monday, also believe that the bank should start trimming its large balance sheet. Meanwhile, Bitcoin stabilized as some notable bulls like Mike Novogratz, Cathie Wood, and El Salvador’s president remained optimistic. In a statement, Bukele said that the country had bought 500 new Bitcoins for about $15 million.
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