Bitcoin Falls on Disappointment of China Stimulus Plans
Bitcoin retreated after China's stimulus plans failed to meet expectations.
Risk assets like BTC have been boosted over the past week by the prospect of a massive stimulus package from the People's Bank of China breathing some life into the country's economy.
However, the National Development and Reform Commission (NDRC) briefing appeared to lack urgency or details, putting a dent in market sentiment.
Bitcoin traded around $62,400, down roughly 0.87% over the past 24 hours. The broader digital asset market fell by around 1.45%, as measured by the CD20 index.
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