Bitcoin stays under $60K for seventh week

Bitcoin's price dropped by 2.7% to approximately $59,918, reaching its lowest level for the seventh consecutive week. This decline comes amid ongoing investor withdrawals from Bitcoin exchange-traded funds (ETFs), totaling $1.35 billion this week, driven by increasing concerns over rising U.S. interest rates. Additionally, investors' preference for assets with clearer fundamentals, such as artificial intelligence stocks, has reduced interest in cryptocurrencies, amid continued pressures stemming from Federal Reserve policies.

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