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Major cryptocurrencies retreat as stronger dollar dampens risk appetite
Bitcoin and XRP slipped alongside other risk assets as a stronger dollar and rate expectations weighed on investor sentiment across global financial markets.
Bitcoin and XRP prices declined as global markets reacted to a stronger US dollar and persistent macroeconomic uncertainty. Investors reduced exposure to risk assets, including cryptocurrencies, amid expectations that interest rates could remain elevated for longer. Market analysts observed that crypto assets are increasingly trading in correlation with traditional financial indicators such as bond yields and currency movements.