Crypto
Bitcoin Holds Ground Near $80K Despite Rising Treasury Yields
Bitcoin held steady near $80,000 on Monday after retreating from levels above $82,000 reached last week. Despite stronger-than-expected US employment data and rising Treasury yields, Bitcoin has shown exceptional resilience.
The cryptocurrency climbed above $82,000 last week before the August US jobs report showed that employers added 162,000 jobs, well above expectations of 55,000. The unemployment rate remained unchanged at 4.1%.
US spot Bitcoin ETFs recorded $987 million in inflows last week, extending their positive streak to three consecutive weeks. QCP Capital identified $80,000 to $82,000 as a local resistance zone, with support around $77,000 to $78,000.