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Bitcoin Dithers Below $26K as Investors Eye CPI Data, FOMC Rate Hike Decision

After surfacing briefly above $26,000 early Monday morning, bitcoin returned to its recent, more familiar haunts below this threshold. The largest cryptocurrency by market capitalization was recently trading at $25,850, down a percentage point over the past 24 hours. BTC dipped $26,000 near the end of last week, following a troubling mix of U.S. Securities and Exchange Commission (SEC) lawsuits against crypto exchange giants Binance and Coinbase, and ongoing angst about the U.S. central bank's inflation-fighting monetary policy. “The Cryptoverse is stuck in limbo as regulatory fears run wild and as some investors abandon certain key exchanges,” said Edward Moya.

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