Bitcoin Gains as Investors Weigh Fed Rate Hike Bets
Dow Jones10:20
0220 GMT - Bitcoin gains in Asia. A sharper-than-expected rise in U.S. producer prices has revived expectations of further tightening from the Fed, says VT Markets Dubai's Mahmoud Mashal in a note. However, Fed officials have signaled little urgency to act, reducing the implied probability of an October hike, the senior market analyst adds. A Fed hold decision should keep Treasury yields contained and provide some support to bitcoin. Higher borrowing rates tend to weigh on risk appetite, hurting cryptocurrencies. Bitcoin is 1.8% higher at $82,365.86.
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