Bitcoin Stalls Near $77,000 Ahead of Key Inflation Data
Bitcoin has remained steady near the $77,000 mark as investors await crucial US inflation data that could shape next week's Federal Reserve interest rate decision.
The world's largest cryptocurrency was trading at $76,933.64, up 0.49% on the day, after slipping from levels above $79,000 earlier in the week.
The weakness has extended across the broader digital asset market, with Ether recently trading around $2,460, while XRP and Solana have also come under pressure as investors reduced exposure to higher-risk assets.
Rising oil prices have fuelled renewed inflation concerns and pushed US Treasury yields higher, making speculative assets such as cryptocurrencies less attractive. Brent crude climbed past $105 a barrel on Thursday, while the US 10-year Treasury yield was around 4.85%.
Attention now turns to Friday's US consumer price index, the final major inflation reading before the Federal Reserve's September 15-16 meeting.