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Bitcoin Sells Off At $11.8K ahead of Powell Speech; Is $10.5K Next? – NewsBTC

Much of Bitcoin’s short-term market bias now hinge on the outcome of the virtual Jackson Hole meeting at the end of this week. The benchmark

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Much of Bitcoin’s short-term market bias now hinge on the outcome of the virtual Jackson Hole meeting at the end of this week.
The benchmark cryptocurrency showed signs of weakness ahead of the event. It fell by close to 1.5 percent during the early London trading session Tuesday after setting an intraday top at $11,823 a day before. Traders showed resilience to enter the market at the said high as they waited for the monetary policymakers to shed more light on the global economy’s health.
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