Bitcoin holds $83,000 as ZEC drops 12% and oil climbs again
Global stocks fell to a one-week low as Brent rose for a second day and traders added to bets on more Federal Reserve rate hikes ahead of Wednesday’s PCE inflation data.
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Summary
- Bitcoin slipped to just above $83,100 as rising Treasury yields and oil prices fueled inflation concerns and expectations of another Federal Reserve rate increase.
- Zcash fell 12 percent, leading losses among major tokens, while The Graph gained 18 percent and the total cryptocurrency market value held near $2.86 trillion.
- Analysts said a sustained drop below $80,000 could signal prolonged weakness for Bitcoin, while renewed momentum could push it above $90,000.
