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Bitcoin Price, XRP Falls. What’s Dragging Cryptos Down.

1. Bitcoin fell 2% after hitting a record high earlier this week. 2. Hot wholesale inflation data may limit Federal Reserve's rate cuts. 3. Low borrowing costs previously fueled Bitcoin's rise to over $124,000. 4. Investor interest in crypto remains high amidst market volatility. 5. Bullish stock debut surged 84% initially, indicating strong market interest.

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FAQ

Why Bearish?

Current inflation data discourages rate cuts, negatively affecting risk assets like SPY.

How important is it?

Inflation concerns and rate cut prospects directly affect investor sentiment impacting SPY.

Why Short Term?

Immediate market reactions are expected due to inflation concerns affecting investor sentiment.

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