Bitcoin has long been lumped in with precious metals as a hedge against a weakening dollar. That trade is unwinding on a hawkish Fed, and bitcoin is falling alongside the metals it was supposed to rival.
Bitcoin is experiencing a selloff, aligning with the downtrend in precious metals like gold and silver. This decline is attributed to a hawkish Federal Reserve, which is unwinding the long-held trade strategy of using these assets as a hedge against a weakening dollar.…
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