Live updates Bitcoins round trip to $85,000 burns traders on both sides

Image for article Live updates Bitcoins round trip to $85,000 burns traders on both sides
News Source : CoinDesk

News Summary

  • OpenAI closing in on new funding round at $1.25 trillion valuation.
  • Bitcoin edges up from worst levels as Nasdaq closes down 2.6%.
  • Money also found its way into the bond market, sending u.s. Treasury yields plunging 15-20 basis points across the curve.
  • Lam Research (LRCX) is down 10% on Wednesday, not because revenue missed or because the outlook for demand for its chipmaking equipment was soft, but because supply chain constraints could limit how much it can sell next quarter.
Bitcoin squeezed short sellers on its way to nearly $85,000 late Wednesday, then wiped out bullish bets on the way back down to about $81,800.

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