Bitcoin is trading near $83,327, up 0.6% over 24 hours but down 2.9% over the past week. Analysts at Capital.com note that rising US Treasury yields and a stronger dollar are weighing on the cryptocurrency in a challenging macroeconomic environment. The probability of a Federal Reserve rate hike at its October 28 meeting has fallen to 19.4%, down from 42.5% a month ago. US spot Bitcoin ETFs recorded net inflows of $21.13 million on Friday, after two days of heavy outflows. The upcoming US inflation data could prove decisive in shaping expectations for the Fed’s next move.
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