Bitcoin Stays Weaker as Dollar, Treasury Yields Rise
Dow Jones
Yesterday
0704 GMT - Bitcoin stays weaker after reaching a one-week low overnight as the dollar and Treasury yields rise along with oil prices due to the Middle East conflict. Meanwhile, the Federal Reserve's September meeting minutes are due at 1800 GMT. "A cautious tone on further tightening would reinforce the pause the market has priced [for October 28], while a firmer one would raise the odds of a hike sooner," Nexo's Iliya Kalchev says in a note. The minutes, bond yields and exchange traded fund flows will be key for bitcoin's direction, he says. Bitcoin falls 1.6% to $84,303 after reaching as low as $83,682 overnight, LSEG data show.
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