Bitcoin, gold trim early losses as yen gives up gains. Oil stays near $100
Bitcoin and gold pared early losses as the yen gave up gains and Asian stocks rebounded, though oil near $100 keeps inflation risks in focus.
Bitcoin reached nearly $82,000 after plummeting below $81,000, while gold rebounded to $4,020 per ounce following an early low of $3,986. The Japanese yen lost early gains and was trading at 156.07 per U.S. dollar. Major Asian equity indices, such as Japan's Nikkei and South Korea's Kospi, also recovered from session lows. Crypto futures positions were liquidated, indicating a bullish skew in leverage.
The risk-off sentiment grew as investors reacted to rising Japanese inflation data, which suggested further Bank of Japan rate hikes. Oil prices hovered near $100, despite U.S. President Donald Trump invoking a Cold War-era law to boost fuel production. Despite the initial rally, a consistent demand for spot bitcoin ETFs has been weak, preventing a steep price surge.
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