Bitcoin Falls on Geopolitical Uncertainty, Jitters Ahead of Inflation Data — Market Talk

Bitcoin edges lower as investors exercise caution due to ongoing uncertainty over the Middle East conflict and ahead of U.S. inflation data at 1230 GMT. Iran said the Strait of Hormuz would remain closed unless the U.S. meets its conditions while the U.S. military said its forces fired on a Panama-flagged ship that attempted to run the American blockade of Iranian ports early Tuesday. The inflation data will be key for interest-rate expectations ahead of the Federal Reserve's September meeting, where markets are pricing roughly 50-50 odds of a 25 basis-point rate increase, according to LSEG. Bitcoin falls 0.2% to $63,599, LSEG data show. ([email protected])