Bitcoin, gold trim early losses as yen gives up gains. Oil stays near $100
Bitcoin and gold pared early losses as the yen gave up gains and Asian stocks rebounded, though oil near $100 keeps inflation risks in focus.
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Summary
- Bitcoin recovered to nearly $82,000 during Asian trading Friday as gold, Asian stocks and Nasdaq futures rebounded while the Japanese yen surrendered early gains.
- About $435 million in cryptocurrency futures positions were liquidated over 24 hours, including $385 million in bullish bets, as bitcoin tested its 50-day moving average.
- Persistently high oil prices and weak demand for spot bitcoin exchange-traded funds, which recorded $381 million in outflows Thursday, could limit a broader rally in risk assets.
