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Why is Bitcoin price down today?

November 2, 2023


The bullish momentum that propelled Bitcoin BTC tickers down $34,528 to a 27.9% “Uptober” gain is waning on Nov. 2 as BTC lost 2% in intraday trading. Bitcoin price seemingly is overheated with BTC derivatives providing worry, even after markets reacted positively to the Federal Reserve’s Nov. 1 decision to pause interest rate hikes.

The contraction in Bitcoin price has not worried all analysts, with some believing Bitcoin is starting a bull run.

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