Bitcoin Falls; U.S. Data in Focus — Market Talk

Bitcoin falls in Asia, down 1.6% at $83,291.312. Market focus is turning to U.S. weekly jobless claims due later Thursday and Friday's preliminary U.S. activity data, says Tickmill's Ranim Turfa in a note. A stronger set of U.S. data could rebuild expectations for further Fed tightening, push Treasury yields higher and weigh on bitcoin, she adds. A Fed rate hike would address inflationary pressures. Higher borrowing rates tend to weigh on risk appetite, hurting cryptocurrencies. ([email protected])