Bitcoin Ranges Near $83K as Traders Look to US Inflation Data
Summary
Bitcoin rose 0.6% to $83,327 Monday but remained down 2.9% for the week, trading within a recent range of roughly $80,300–$87,100. Analysts said high Treasury yields, a stronger dollar and inflation concerns continue to weigh on the cryptocurrency, which is behaving more like a risk asset than a geopolitical hedge. Markets have lowered expectations of a Federal Reserve rate hike, but long-term yields remain elevated. Bitcoin fund flows have slowed after substantial inflows since mid-July, while spot Bitcoin ETFs recorded modest inflows Friday following large outflows earlier in the week. Upcoming U.S. inflation data and any retreat in yields and the dollar may shape the next move.
