The value of $TRUMP rose to a high of $14.44 before settling around $14, marking an over 45% increase within 24 hours. Among the top 100 cryptocurrencies by market capitalization, $TRUMP is currently the best performer.
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Still, the bulls might want to keep an eye on the bond market, where dynamics that characterized the COVID crash of March 2020 may be emerging.
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The bullish shift in the short and near-dated options happened as the Federal Reserve (Fed) retained the forecast for two rate cuts this year despite making the expected stagflationary adjustment in economic forecasts. The bank said it will slow the pace of balance sheet run off from April.
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