Bitcoin Eases After Hitting 4-Month High as Investors Seek Dollar Alternatives — Market Talk

Bitcoin pulls back slightly after hitting a four-month high earlier as investors seek alternatives to the dollar amid concerns about the U.S. fiscal position. President Trump is putting increasing pressure on House Republicans to pass his tax-cutting bill. That comes in the wake of Moody's Ratings downgrading U.S. sovereign debt last week, citing spiralling government debt. Improved risk sentiment on optimism over a de-escalation in the global trade war has provided some support to bitcoin recently. However, investors remain cautious amid ongoing uncertainties. Bitcoin falls 0.6% to $106,340 after hitting a four-month high of $108,015 earlier, according to LSEG. ([email protected])