Bitcoin traded around $83,327, up 0.6% over the past 24 hours but still down about 2.9% over the past week, according to Techub News. Decrypt said rising Treasury yields and a stronger U.S. dollar were weighing on the asset. At the same time, U.S. spot Bitcoin exchange-traded funds recorded net inflows of $21.13 million on Friday, a reversal after net outflows of $487.07 million on Wednesday and $244.13 million on Thursday. The flow data came as traders put the probability of a 25-basis-point rate hike at the Federal Reserve’s Oct. 28 meeting at 19.4%. The figures sketch a market balancing short-term support from ETF demand against pressure tied to rates and the dollar.
Bitcoin was trading at about $83,327, up 0.6% in the past 24 hours, though it remained down about 2.9% over the past week, according to Techub News.
Decrypt said rising Treasury yields and a stronger U.S. dollar were putting pressure on Bitcoin.
U.S. spot Bitcoin ETFs return to net inflows
U.S. spot Bitcoin ETFs posted $21.13 million in net inflows on Friday. That followed net outflows of $487.07 million on Wednesday and $244.13 million on Thursday.
Traders see a 19.4% chance that the Federal Reserve will raise rates by 25 basis points at its Oct. 28 meeting.
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