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Bitcoin and Ethereum opened lower on Wednesday, as escalating tensions in the Middle East and expectations of a Federal Reserve rate hike weighed on the crypto market.
At 9:00 AM ET on Wednesday, September 9, Bitcoin opened at $78,446.18, down 0.8% from Tuesday's opening price; Ethereum opened at $2,484.93, down 0.2% from Tuesday's opening price. As of 7:11 AM ET, Bitcoin's price had risen slightly to $78,824.54, while Ethereum's price remained stable at $2,486.04. Market analysis suggests that the ongoing escalation of tensions in the Middle East and the Federal Reserve's potential 25 basis point interest rate hike at next week's meeting are the main factors contributing to the downward pressure on cryptocurrency prices.
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Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
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