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Bitcoin’s Price Recovery Faces Nonfarm Payrolls Test

The leading cryptocurrency by market value traded near $59,000 at press time, up over 4% from Wednesday’s lows near $56,500, according to CoinDesk data. The dollar index, which gauges the greenback’s exchange rate against major fiat currencies, has declined over 1% to 105.20 after Fed Chair Jerome Powell ruled out a rate hike as the next likely move during a press conference after the Federal Open Markets Committee’s decision.

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