A number of factors combined to push Bitcoin’s price higher and then cause the correction.
Expectations around the policy decisions of the played an important role. Market participants largely priced in a rate cut, which tends to encourage more risk-taking investments like cryptocurrencies since lower yields on safe assets make risk assets more attractive.
When signals came from central-bank communications suggesting easing might arrive, Bitcoin benefited; but when uncertainty or stronger-than-expected rate language surfaced, volatility increased.
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