Bitcoin Rises; Eyes on U.S. Inflation Data — Market Talk

Bitcoin edges higher in Asia, but remains below the $80,000 mark. Traders are keeping an eye on upcoming U.S. CPI data, which would offer clues about the Fed's interest rate decision next week. Although the prospect of a Fed rate hike has unsettled markets, it is rapidly becoming priced in, says IG's Chris Beauchamp in a note. "What matters for bitcoin traders and investors will be the question of whether this is the first move in a cycle or a one-off," he adds. Higher borrowing rates tend to weigh on risk appetite, dragging cryptocurrencies. Bitcoin is 0.1% higher at $79,344.95.([email protected])