‘Sentiment is bleak’: bitcoin declines as geopolitical tensions add to risk-off mood

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Bitcoin's price declined, continuing a four-week slide, as investors adopted a risk-off approach amid rising geopolitical tensions and renewed economic concerns. On Tuesday, the token fell as much as 3.2% to US$66,604. The decline mirrored earlier losses in US equities, reflecting Bitcoin's recent correlation with high-beta tech stocks. Market sentiment is reportedly bleak, despite institutional adoption. Traders are also considering the potential economic impact of artificial intelligence and the outlook for US Federal Reserve rate cuts following recent inflation data. US-listed Bitcoin ETFs experienced a fourth consecutive week of net outflows, with US$360 million withdrawn last week.
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