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Thursday, December 8, 2022

Cryptocurrencies Tumble as Dollar Jumps

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Cryptocurrencies sold off on Wednesday, with the dollar rising after the Federal Reserve minutes signaled downward revisions to economic projections.

Recent dollar weakness had been a bullish sign for Bitcoin and peer currencies.

Bitcoin, which is the world’s largest digital coin, this month rallied above $12,000, a key level watched by chartists and crypto fans. On Wednesday, it fell to as low as $11,621.

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