Bitcoin Recovers After Tuesday's Losses, Helped by Lower Treasury Yields
Dow Jones10-14
0706 GMT - Bitcoin edges up, continuing to recover from a fairly steep fall on Tuesday, helped by lower Treasury yields and a weaker dollar. Investors await U.S. consumer-price inflation data at 1230 GMT, where a strong reading could pressure bitcoin as expectations for higher U.S. interest rates gain traction, says Naeem Aslam at Zaye Capital Markets in a note. Bitcoin's current gains could be temporary, he says. "Bitcoin's recovery reflects improving short-term risk appetite rather than confirmation of a sustained bullish reversal," he says, adding that institutional demand "remains uncertain." Bitcoin rises 0.1% to $83,403 after falling to $80,998 on Tuesday, LSEG data show.
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