Market Insight | Cryptocurrency ETFs Plunge Across the Board as Safe-haven Sentiment Hits the Market, Cryptocurrency Decline Continues
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Cryptocurrency ETFs plummet across the board, with the cryptocurrency downturn continuing. The escalating tensions in the Middle East have led investors to sell off risky assets such as Bitcoin. The price of Bitcoin is under pressure, possibly due to news of the US government seizing Bitcoin and Mt. Gox exchange creditors selling tokens. Market expectations are a key factor in Bitcoin price fluctuations. The Federal Reserve maintains interest rates unchanged, while the Bank of England's rate cut fails to boost market confidence, intensifying market uncertainty. The rising US unemployment rate triggers the Sam recession indicator
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