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Bitcoin Price Eyes Rally as $2T Treasury Trade Unfolds—Fed Emergency Rate Cut Bets Soar

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Summary
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59% Informative

Bitcoin (BTC) is up 0.24% today and trades around at $ 76,481 in the early Asian session after crashing 3.71% on Tuesday .

While Bitcoin price slides lower, US Treasury market is spiraling into chaos, with the 10-year yield rocketing to 4.5% and 30-year yields hitting 5% . Some speculate this could be a $2 trillion basis trade unwind while others hint it could be China selling treasuries.

Market sentiment shifts rapidly, with probability of a Fed rate cut in May soaring to 58.9% today .

VR Score

37

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21

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50

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English

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