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(Bloomberg) After last week’s market turmoil, there’s really just one question on traders’ minds: how central banks will react to the jump in bond yields.The manner in which markets anticipate the likely policy response will be key to determining risk appetite Monday following a week in which 10-year Treasury yields, a benchmark for global borrowing costs, surged to almost triple their levels of August. The move underscored how investors are starting to fret about an acceleration in inflation that might prompt the Federal Reserve and other central banks to tighten policy sooner than expected. The S&P 500 had its first back-to-back weekly decline since October, while implied volatility in Group-of-Seven currencies rose the most since June.“We are moving to a type of market condition that’s not for the faint-hearted,” said Nader Naeimi, the head of dynamic markets at AMP Capital Investors in Sydney, adding that he will continue betting aga
Bitcoin tumbles below $49,000 as fear sweeps through crypto
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Last Updated: Feb 23, 2021, 10:34 PM IST
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Synopsis While the selloff only puts Bitcoin prices at the lowest in about two weeks, investors are starting to wonder whether it marks the start of a bigger retreat from crypto or simply represents volatility in an unpredictable market.
Agencies
The cryptocurrency tanked as much 18% on Tuesday and traded around $48,750 as of 10:41 a.m. in New York.
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By Joanna Ossinger and Olivia Raimonde
Bitcoin’s losses accelerated, with prices tumbling below $50,000, as investors started to bail on the market’s frothiest assets.
The cryptocurrency tanked as much 18% on Tuesday and traded around $48,750 as of 10:41 a.m. in New York. While the selloff only puts Bitcoin prices at the lowest in about two weeks, investors are starting to wonder whether it marks the start of a bigger retreat from crypto or simply represents volatility in an unpredictable market.
Bitcoin yesterday slid after a bout of volatility highlighted lingering doubts about the durability of its mesmerizing rally.
The cryptocurrency fell as much as 12.5 percent to US$48,071 and was trading below US$50,000 as of 8:16am in London. At one point on Monday it plunged 17 percent before paring the slide. Bitcoin is still up about 390 percent in the past year.
US Secretary of the Treasury Janet Yellen and Microsoft Corp cofounder Bill Gates were the latest to weigh into a debate over the digital coin.
Gates cautioned about how investors can be swept up in manias, while Yellen said bitcoin