Add as a preferred source on GoogleBitcoin Holds Above $83,000 as Dollar and Treasury Yields Rise
Bitcoin and gold each fell about 0.5% Monday as the dollar index stayed above 102.4 and markets awaited Wednesday’s U.S. inflation data.
Bitcoin (BTC) held above $83,000 Monday as a stronger dollar and rising U.S. Treasury yields pressured markets ahead of Wednesday’s inflation report.
Bitcoin and gold each fell about 0.5%, with gold trading near $4,180 an ounce. The dollar index stayed above 102.4, while Treasury yields moved higher. Technology stock futures edged lower, and West Texas Intermediate crude rose above $92 a barrel.
The U.S. consumer price index report is due Wednesday. Market expectations call for core CPI to rise 2.5% from a year earlier and headline CPI to increase 3.7%. If confirmed, both measures would accelerate from the previous month and may influence expectations for Federal Reserve policy.
The market is also watching IREN’s shift from Bitcoin mining to artificial intelligence infrastructure.
The CPI report is scheduled for Wednesday, Oct. 14.
Enna Lee
ReporterEnna Lee reports on investing and digital-asset markets for TokenPost. Send corrections or tips to info@tokenpost.com.