Bitcoin Declines in Low Trading Volumes Due to U.S. Holiday

Dow Jones

09/07

0728 GMT - Bitcoin edges lower amid low trading activity as the U.S. celebrates Labor day holiday. Last week's stronger-than-expected U.S. jobs data led the dollar to strengthen on Friday, while dollar-sensitive assets such as gold and bitcoin underperformed. The next key focus for crypto assets is U.S. inflation data due later this week. "Softer inflation would reduce pressure for tighter policy, weaken real yields and improve the odds of bitcoin breaking through resistance," says Zaye Capital Markets' Naeem Aslam in a note. Strong inflation numbers pull bitcoin lower, however, he says. Bitcoin falls 0.3% to last trade at $79,671.

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