Bottom-fishing funds bet on a crypto market bottom, with a certain exchange's stock price soaring against the trend
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This indicates that investors were already mentally prepared for a worse scenario—pricing in the negative news in advance. After five consecutive trading days of decline, bitcoin rebounded, with gains reaching as much as 5.3%. As the leader of the crypto market, bitcoin's price movements are often highly synchronized with the stock price of a certain exchange. The exchange disclosed that its fourth-quarter revenue fell 20% year-on-year to $1.8 billion, and its net loss for the quarter reached $667 million.
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