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Bitcoin rises past $63K despite outflows
Bitcoin's price climbed above $63,000 after experiencing an weekly loss of around 18%, amid institutional selling pressures and geopolitical tensions in the Middle East, which led to outflows of $1.72 billion from American investment funds. Analysts warned that market sentiment remains fragile, despite some major companies increasing their stakes in digital currencies through purchases. Additionally, alternative cryptocurrencies were impacted by the tensions between Iran and Israel, heightening concerns over rising oil prices and their potential impact on monetary policies.
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