Bitcoin Recovers Slightly After Sharp Falls — Market Talk
Bitcoin recovers slightly after Monday's sharp losses as risky assets stabilize. Still, gains are limited and analysts say the cryptocurrency's recovery could be shallow. Bitcoin registered its biggest one-day decline since March on Monday as hints about another interest-rate rise from Bank of Japan Gov. Kazuo Ueda dampened risk appetite. The broader crypto market has shed nearly $1.4 trillion from its October peak, according to IG. Analysts cite concern that rising Japanese bond yields could lead Japanese investors to repatriate foreign investments, including in crypto, back to Japan. Bitcoin rises 0.6% to $87,030 after hitting a one-week low of $83,878, LSEG data show. It's still down more than 30% since October's record high of $126,223. ([email protected])