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Bitcoin posts biggest weekly loss in 5 months as dollar liquidity declines, debt ceiling fears return

April 25, 2023


The leading cryptocurrency by market value fell by 9% to $27,600, registering its largest single-week percentage loss since early November, according to data from TradingView and CoinDesk. The yield on the 10-year U.S. Treasury note rose by six basis points to 3.58%, its second-straight weekly gain, denting the appeal of risky assets, including cryptocurrencies.

The USD Liquidity Conditions Index, an indicator tracking the greenback’s supply in the monetary system, slipped to $6.13 trillion, reaching its lowest point in over a month, according to data source TradingView. Besides, traders priced in a higher probability of the Federal Reserve continuing its tightening cycle with a 25 basis point rate hike in May

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