DβAgostino also mentioned that many traders now believe that Bitcoin is one of the few assets that mirrors the characteristics of gold and start buying it when markets become unstable.
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Credit spreads are widening and have reached their highest levels since August 2024 β a period that coincided with bitcoin (BTC) dropping 33% during the yen carry trade unwind.
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The Fed retained forecast for two rate cuts Wednesday, with Powell calling the inflationary impact of Trump's tariffs transitory.
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