Bitcoin Pulls Back Below $86,000

Dow Jones09:59

0159 GMT - Bitcoin pulls back in Asia's morning session, dropping below $86,000 but staying around its highest levels since January. A broad retreat in global bond yields improved the backdrop for risk assets, but the scope for further declines may be limited, says Konstantinos Chrysikos at Kudo.com. Coming inflation releases will be key as markets eye more interest-rate hikes. Softer readings could extend the recent pullback in yields, while firmer data could revive tightening expectations and cap Bitcoin's gains, Chrysikos says. Sustained ETF buying and a continued decline in oil prices could extend Bitcoin's advance, while any setback in Middle East diplomacy could quickly revive selling pressure. Bitcoin falls 1.6% to $85,561.

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