Bitcoin Rallies to $36k But Slips Below $35k Despite Broader Market Gains; Seen as Potential Inflation Hedge
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Bitcoin rallied to nearly $36k on Wednesday but then dropped back below $35k on Thursday.
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The drop came despite risk assets like stocks rallying amid falling interest rates.
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Bitcoin is still up 1.25% over 24 hours but lagging the broader crypto market's 1.6% gain.
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Fidelity's Jurrien Timmer tweeted bitcoin could be "exponential gold" in an inflationary environment.
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Timmer sees bitcoin as a commodity currency and potential store of value during monetary debasement.