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Bitcoin price falls 4%, can BTC recover above $70,000?

By Rony Roy

Bitcoin price has fallen 4.1% over the past 24 hours to $69,376 on November 13, as heavy liquidations, continued ETF withdrawals and concerns over another Federal Reserve interest rate hike have weighed on the cryptocurrency market. According to crypto.news data,…

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Bitcoin

The first and largest cryptocurrency, created in 2009, with a fixed maximum supply and no central issuer.

Its price swings and adoption by funds and companies make it a bellwether for the whole crypto market.

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Cryptocurrency

A digital currency secured by cryptography and recorded on a blockchain, without a central bank issuing it.

Crypto prices are volatile, and governments are still deciding how to regulate it.

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Exchange-traded fund

An investment fund that holds a basket of assets, such as the shares in an index, and trades on a stock exchange like a single share.

ETFs offer low-cost, diversified investing and are a fast-growing way people save.

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Federal Reserve

The central bank of the United States, which sets US interest rates and supervises banks.

Because the dollar is used worldwide, its rate decisions affect borrowing costs and markets in many other countries.

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