Bitcoin Price Falters Below $37K as Soft Inflation, Global Uncertainty Dampen Investor Sentiment
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Recent Bitcoin price failed to break past $37K, undergoing correction toward $35K. This was triggered by softening US inflation data, reducing appeal as inflation hedge.
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China's economic situation and US political disputes over potential govt shutdown also contribute to investors' cautious stance on Bitcoin.
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Fraudulent BlackRock XRP trust filing drew regulatory scrutiny to crypto, concerning given pending SEC decisions on spot Bitcoin ETFs.
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Global recession fears and Bitcoin's huge $725B market cap may have caused investors to reassess positions.
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Factors like Fed's soft landing hopes, China growth concerns, no BTC ETF approval create unfavorable landscape for Bitcoin over $37K.