Daily Market Updates: Bitcoin edges toward $65,000 as Treasury yields curb carry trade

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Bitcoin edges toward $65,000 as Treasury yields curb carry trade

Softer economic data reduced expectations for a September Fed hike, helping bitcoin hold up as Treasuries out-yielded the carry trade for only the second time on record.

Reported · Written up by our desk · Bitcoin

Bitcoin traded higher toward $65,000 on Thursday, supported by a shift in interest rate expectations after softer economic data eased fears of a September Fed hike, according to The Block.

The outlet also linked the move to bond-market dynamics, noting Treasuries out-yielded the carry trade for only the second time on record.

Despite the bid, The Block reported that spot trading volume was near multi-year lows, suggesting participation has remained subdued even as prices firmed.

Latest closeBitcoin $64,723.75 ▲1.3%

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Sources

The Block‘Paid to wait’: Bitcoin presses toward $65,000 as Treasuries out-yield the carry trade for only second time on record

Crypto

Bitcoin edges toward $65,000 as Treasury yields curb carry trade

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