Gold Hits Three-Month High as Bitcoin Tests $80,000
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Bitcoin faces key support test at $78.3K as US crude oil hits three-month high
Bitcoin fell with US stocks on the opening of Tuesday’s Wall Street trading session as analysis warns that BTC price support at $78,300 must hold.
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Bitcoin volatility eased after BTC hit its highest level since mid-May, while gold joined the cryptocurrency in approaching three-month highs.
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Bitcoin stayed away from challenging $80,000 after July US PCE inflation data came in slightly higher than anticipated, pressuring gold and risk assets.
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Bitcoin price action saw sharp moves within its local range as US Treasury Secretary Scott Bessent addressed US bond yields.
Bitcoin slips from $80K as gold cools with falling US bond yields
Bitcoin bulls battled for control of the $80,000 zone as gold came off its highest levels since mid-May on falling US bond yields.