0729 GMT - Bitcoin recovers only slightly after reaching a 12-day low Tuesday amid a recent selloff in global tech stocks. Concerns over debt-funded spending in artificial intelligence has weighed on tech stocks along with tighter financial conditions as markets expect the Federal Reserve to raise interest rates in coming months, IG analysts say in a note. The market is now pricing a 90% chance of a rate rise in September, LSEG data show, fuelled by last week's Fed meeting and recent strong data. Bitcoin edges up 0.5% to $62,686 after falling to as low as $61,921 on Tuesday, LSEG data show. It has struggled to recover meaningfully since reaching a 20-month low of $59,125 on June 5, trading in a narrow range. (renae.dyer@wsj.com)
(END) Dow Jones Newswires
June 24, 2026 03:29 ET (07:29 GMT)
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