Bitcoin steady at $59,000
Bitcoin maintained stability at around $59,000, despite dropping by 14% in the second quarter of the year. It faced pressure due to rising U.S. interest rates and a preference for investing in AI company stocks, leading to outflows from ETFs and reduced revenue for institutions. It also hit its lowest level in 22 months at approximately $57,800, amidst widespread uncertainty in the cryptocurrency market and the impact of the Federal Reserve's hawkish stance.
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