Bitcoin (BTC) plunged to below $38,000 on March , giving up all the gains it had made last week, which saw BTC/USD rally over $45,000.
BTC back below $40K as oil soars
The losses appeared due, primarily, to selloffs across the risk-on markets, led by the 18% rise in international oil benchmark Brent crude to almost $139 per barrel early March 7, its highest level since 2008.
Nonetheless, Bitcoin’s inability to offer a hedge against the ongoing market volatility also raised doubts over its…
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