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Bitcoin dips below $82K amid selling pressure
Bitcoin experienced a 4% decline, falling to approximately $81,448 after rising to around $85,000 during nighttime trading. This occurred amidst a widespread sell-off in stock markets, particularly in the technology and artificial intelligence sectors, coupled with rising oil prices that reached a five-month high. Risk appetite significantly diminished, leading to a notable drop in the value of cryptocurrencies, which are typically influenced by the performance of tech stocks and rising borrowing costs. Disappointing earnings reports from tech companies and fears of ongoing interest rate hikes also impacted the markets.
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