Bitcoin Edges Up But Stays Range-Bound — Market Talk

Bitcoin edges up but is struggling to break out of its recent range below the $80,000 mark, as global yields' grim march higher keeps risk-off sentiment intact. Current market conditions aren't looking favorable for crypto: The bond selloff is raising an alarm about debt sustainability, and higher energy prices are fanning inflation worries. All these points to a higher-rate environment that dims the appeal of non-traditional assets. On a positive note, institutional demand for Bitcoin has shown resilience, says Milad Azar at XTB MENA. A sustained streak of ETF inflows could underpin the market, while major buyer Strategy's resumption of Bitcoin purchases after a prolonged pause supports sentiment. Inflation data, central bank meetings and crypto legislation progress in the U.S. will remain on the radar. Bitcoin is up 0.2% at $77,581. ([email protected])