Bitcoin dipped below a key support level Thursday, pulling the broader crypto market down as the US dollar gained strength ahead of Federal Reserve Chair Jerome Powell’s speech.
The leading cryptocurrency fell over 1% $121,500, reversing Wednesday’s spike and penetrating the 200-hour simple moving average, CoinDesk data show. Other major tokens such as BNB and ETH dropped over 3%. The CoinDesk 20 Index fell 1% to 4,155 points.
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