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Bitcoin rises amid rate hike expectations
The price of Bitcoin rose by 4.2%, reaching approximately $80,944, amid decreasing fears of an imminent increase in U.S. interest rates. This followed positive statements from Federal Reserve officials regarding keeping interest rates steady, which supported the cryptocurrency market and stocks of related companies. Other digital currencies such as Ethereum, XRP, and Bitcoin also experienced notable gains. Additionally, the decline in expectations of a rate hike improved investor sentiment, marking Bitcoin’s third consecutive week of gains.
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