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Bitcoin Struggles to Recover After Tech Appetite Wanes
Bitcoin rose slightly but remained below the key $90,000 level as it struggled to recover meaningfully after hitting a near two-week low overnight.
The cryptocurrency has been hit by a rotation away from artificial intelligence-related stocks after results from Oracle and Broadcom last week failed to meet lofty expectations.
Waning appetite for tech stocks offset the positive impact of expectations for further interest-rate cuts after the Federal Reserve’s rate reduction last week. Earnings from Micron Technology on Wednesday will be key for tech stocks and bitcoin.
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