A pleasant Tuesday summer evening in the U.S. was upended when bitcoin (BTC) plunged nearly 6% in a handful of minutes, more than erasing sizable gains seen late last week after a dovish turn by Federal Reserve Chair Jerome Powell and the teaming up of pro-crypto presidential candidates Donald Trump and RFK Jr.
After touching as low as $58,200, bitcoin managed a bounce back above $60,100 during early U.S. trading on Friday, but that’s mostly evaporated as the noon hour approaches. Now at $58,800 bitcoin is lower by 4.5% over the past 24 hours. The broader CoinDesk 20 Index is down a similar amount.
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