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Investing.com-- Bitcoin steadied above $82,000 on Friday and was set to snap a three-week gaining streak as concerns over rising yields and economic uncertainty pressured appetite for cryptocurrencies.
Bitcoin price is under renewed selling pressure after another failed attempt to push through the upper end of its recent range. BTC has now slipped toward $82,600, with the latest decline coming as ETF demand reverses, oil prices surge and Treasury yields climb to multi-decade highs. On-chain data…
Bitcoin remains under pressure as rising US Treasury yields, a stronger dollar and renewed inflation concerns weigh on cryptocurrency sentiment. After briefly approaching $80,400, BTCUSD has recovered towards $81,800, but traders remain focused on the $80,000 support level ahead of key US inflation data.