Bitcoin falls below $83,000 as dollar strength keeps markets on edge
Markets start the week cautiously as U.S. dollar and bond yields stay firm
Markets are making a cautious start to the week, with bitcoin trading just above $83,000 and gold around $4,180 an ounce, both down roughly -0.5%. Tech futures are slightly lower, while WTI crude is edging higher above $92 a barrel. Bond yields are also ticking up as bond prices fall, following a brief recovery in the second half of last week that saw TLT, the long-dated U.S. Treasury ETF, gain more than 2%. The dollar remains firm, with the DXY index above 102.4.
Wednesday’s U.S. inflation report is the week’s key macroeconomic event. Annual core inflation is expected to come in at 2.5%, while headline inflation is forecast at 3.7%, which would mark a reacceleration from the previous month.
IREN IREN, which has repurposed from bitcoin mining into AI infrastructure, has secured a multiyear cloud services agreement with artificial intelligence firm Anthropic, according to The Information. IREN shares are up 4% pre-market.