Bitcoin Downplays S&P 500 Correlation, Hits $9.7K as Gold Rise

Bitcoin closed above $9,700 in hopes to wipe out its pre-halving crash amidst growing risk-off demand. The cryptocurrency broke its short-term correlation with the S&P 500 after the Federal Reserve gave a grim economic outlook. Instead, the BTC/USD exchange rate surged alongside its safe-haven rival Gold. Bitcoin extended gains a day after downplaying its positive…

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Author: toutiao