Bitcoin Off Lows as Bank of England’s Bond Market Intervention Raises Hopes for Fed Pivot

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The BOE, Fed, and other major central banks poured billions of dollars into the financial system via QE in the aftermath of the coronavirus-induced crash of 2020, triggering an unprecedented bull run in crypto and traditional markets. Now, however, rampant inflation has forced those central banks to reverse course, sending asset markets across the spectrum sharply lower in 2022. Bitcoin has been more than halved to less than $20,000 from just shy of $70,000 late in 2021.



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