Bitcoin Ranges Near $83K as Traders Look to US Inflation Data

What happened: Bitcoin traded near $83,327, up 0.6% on the day but down 2.9% on the week, as traders awaited US inflation data. Key numbers: $83,327 price, up 0.6% daily, down 2.9% weekly. 10-year Treasury yield 5.24%, 30-year 5.60%. October Fed hike odds 19.4%. Why it matters: Analysts say rising Treasury yields and a stronger dollar are weighing on Bitcoin even as rate hike bets fade. Attention turns to US inflation data, which could shape expectations for the Fed's next move. Coverage: 5 outlets in 24h

Bitcoin traded near $83,327, up 0.6% on the day but down 2.9% on the week, as traders awaited US inflation data.

Analysts say rising Treasury yields and a stronger dollar are weighing on Bitcoin even as rate hike bets fade. Attention turns to US inflation data, which could shape expectations for the Fed's next move.