It's not a dream! The crypto market did go up today. Here's why.
After drifting lower for months and spending recent weeks in a tiny trading range, BTC/USD has delivered 24-hour gains in excess of 7%.
Behind the scenes, however, little has changed — macroeconomic conditions have not undergone major upheaval compared with a week ago, and internal problems for Bitcoin,What could have caused BTC price action to potentially finally break out of a year-long downtrend? Concerns focused on unwavering policy keeping the U.S. dollar strong and rates surging higher for the foreseeable future — the worst-case scenario for risk assets.
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