Bitcoin spikes to $85,500, slides as Treasury yields cap gains
Business
Bitcoin spiked to $85,500 after a softer US inflation report, but quickly slid back to just over $83,700.
The latest inflation numbers had people hopeful for a rally, but high Treasury yields (5.28% for the 10-year and the 30-year near its highest level since 2002) put a lid on those gains.
Crypto mixed, Nasdaq and Nikkei gain
Crypto was all over the place: HYPE jumped 3%, Dogecoin edged up nearly 2%, while Solana slipped, and XRP stayed flat.
Even with better inflation data hinting at fewer Fed rate hikes soon, stubbornly high bond yields kept things from getting too exciting.
Meanwhile, traditional markets like Nasdaq and Japan's Nikkei managed decent gains thanks to positive tech forecasts, showing investors are still being careful in this unpredictable climate.