Bitcoin Takes Breather After Crossing $82,000 — Market Talk

Bitcoin edges lower in the Asia, pausing after crossing $82,000 but firmly above $80,000. The closely watched level was crossed overnight after comments from Fed Gov. Waller pared expectations of aggressive rate hikes. Analysts are looking for a sustained run above $80,000 to confirm an upturn after volatility followed August's surge. The gains in Ethereum, Ripple and other coins are encouraging, signaling that buying is spreading across the ecosystem, says Antonio Di Giacomo at XS.com. The upswing is also significant because of the challenging backdrop for risk assets. Bond yields remain elevated and markets continue to weigh the possibility of further rate hikes globally. Higher yields normally reduce the appeal of crypto, but it's withstanding the pressure in recent sessions, he says. Bitcoin last trades at $81,016 after touching $82,163. ([email protected])