Bitcoin Trades Flat as Investors Consolidate Positions
Dow Jones11:20
0320 GMT - Bitcoin is little changed in Asian trading amid signs that more traders are buying and holding their positions at current levels, analysts at crypto trading platform Bitfinex say. The asset remains under pressure from stronger demand for the U.S. dollar, persistent inflation and rising long-term bond yields. Slower trading from institutional investors, reduced market liquidity and seasonal weakness in August are also keeping the cryptocurrency stuck in the $62,000-$65,000 range. Still, a recovery in ETF demand may strengthen the case for a rebound, Bitfinex says. Bitcoin stays flat at $64,313,67.
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