Daily Market Updates: Bitcoin holds steady ahead of U.S. inflation data

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Bitcoin holds steady ahead of U.S. inflation data

CoinDesk said traders were also watching a jump in 30-year Treasury yields to their highest level since 2002.

Reported · Written up by our desk · Market Structure

CoinDesk reported that Bitcoin was trading tentatively as markets looked ahead to upcoming U.S. inflation data and a key inflation readout watched by the Federal Reserve.

The outlet also noted that expectations for higher interest rates had been driven by oil-linked rate-hike bets, sending 30-year Treasury yields to their highest level since 2002.

CoinDesk added that Standard Chartered expects a major rally in Ethena’s ENA token, as traders positioned around the inflation release and its potential impact on rate expectations.

Latest closeBitcoin $81,660.31 ▼1.9%

← Newer storyENA token sees Standard Chartered coverage as traders await inflation…Older story →Bitcoin rises as yields fall after cooler core PCE inflation print

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CoinDeskLive updates: Bitcoin tentative ahead of U.S. inflation data

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Bitcoin holds steady ahead of U.S. inflation data

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