Bitcoin Hits $76,200 as Tether Issues $2B in USDT, Boosting Market Sentiment

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Furthermore, Gold investors are now turning to Bitcoin as a hedge factor following the re-election of Donald Trump earlier this week.

The fear of further cryptocurrency selloff in the near term has significantly diminished as Bitcoin (BTC) price closed the daily candle above $75.6k for the first time since its inception.

Notably, this injection follows Tether Treasury minting 2B $USDT on #Ethereum and burning 1B $USDT on #Tron… pic.twitter.

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Article Details

Author / Journalist: Qadir AK

Category: Crypto

Markets: United States

Topics: Price Analysis Bitcoin News

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-11-07 @ 06:21:05 (11 hours ago)

News Timezone: GMT +8:00

News Source URL: coinpedia.org

Language: English

Article Length: 362 words

Reading Time: 3 minutes read

Sentences: 23 lines

Sentence Length: 16 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Coinpedia

News ID: 23457895

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Main Topics: Crypto

Official Website: coinpedia.org

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News Last Updated: 8 hours ago

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