Bitcoin on Back Foot as Focus Turns to Powell Speech; What to Expect?

Bitcoin on Back Foot as Focus Turns to Powell Speech; What to Expect?

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Bitcoin dropped during Asia-Pacific and European trade Thursday as rising bond yields prompted concerns that central banks may begin tightening monetary policies sooner-than-expected.

The benchmark cryptocurrency fell up to 3.59 percent to $48,562, extending its decline after setting up a week-to-date high level at $52,666 in the previous session. Elsewhere in the crypto market, high-cap tokens including Ethereum, Cardano, Binance