Bitcoin Slips as Investors Digest $6B Bond Buyback Announcement
Dow Jones
6 hours ago
0146 GMT - Bitcoin falls in Asia trade. U.S. government bond yields climbed to fresh multiyear highs on Wednesday after the Treasury Department said it would repurchase up to $6 billion of longer-term debt at its Thursday buyback operation. Markets responded by moving money out of riskier assets including cryptocurrencies like bitcoin, which had been in positive territory before the announcement. Bitcoin is also being weighed by the unrelenting rise in energy prices, the selloff in U.S. equities and higher bond yields, IG market analyst Tony Sycamore says in a note. Bitcoin is 0.3% lower at $78,090.71.
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