Bitcoin sell-off continues as BTC nears $31K ahead of Powell’s speech
The latest price declines came after the U.S. inflation rose to a 30-year high in June. Bitcoin’s (BTC) price continued its downtrend Wednesday ahead of the testimony from United States Federal Reserve Chairman Jerome Powell.The spot BTC/USD exchange rate fell to its 17-day low of $31,600 following a 3.46% intraday dip. Meanwhile, CME futures tied to the pair plunged 3.41% to $31,515, extending their week-to-date losses to 9.5%.Bulls step in at $31.5K to buy the Bitcoin dip. Source: TradingViewBitcoin had powered to $35,000 at the beginning of July, as bulls continued to defend support....
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