News
Bitcoin Ranges Near $83K as Traders Look to US Inflation Data
Bitcoin traded near $83,327 on Monday, up 0.6% over the past 24 hours according to CoinGecko data. Analysts noted that rising energy prices have increased inflation concerns, pushing US Treasury yields higher and strengthening the dollar. The 10-year Treasury yield stood at 5.24%, and the 30-year yield at 5.60%, hitting 52-week highs of 5.37% and 5.73% last week. Bitcoin's recent price action suggests investors treat it as a risk asset rather than a reliable geopolitical hedge. US spot Bitcoin ETFs saw net inflows of $21.13 million on Friday, after outflows of $487.07 million on Wednesday and $244.13 million on Thursday. The upcoming US inflation data is expected to shape expectations for the Federal Reserve's next move.