Bitcoin Rises; Investors Await U.S. CPI Data — Market Talk
Bitcoin rises in early Asia trade, as investors are focusing on U.S. inflation data due later in the week. Markets are currently pricing in an interest rate hike at next week's Fed meeting, says Tickmill's Joseph Dahrieh in a commentary. A stronger-than-expected inflation print could reinforce tightening expectations and push Treasury yields higher, creating additional pressure on bitcoin. However, a softer CPI reading would likely ease concerns and provide some relief for bitcoin, he says. Bitcoin is 0.5% higher at $78,853.42, according to LSEG data. ([email protected])