Bitcoin and Ethereum edged lower on Sept 30 as investors remained cautious over elevated US Treasury yields, a firmer dollar and the outlook for US interest rates.
Bitcoin slipped about 0.6% to around US$83,100, retreating after briefly rebounding above US$84,000 in the previous session.
Ethereum, meanwhile, eased about 0.4% to US$2,674, giving back part of its gains on Sept 29 when it had risen as high as US$2,720.
Pressure on cryptocurrencies remained tied to the broader macro environment, with the US 10-year Treasury yield hovering near levels last seen in 2007. The stronger US dollar and renewed inflation concerns, partly fuelled by higher oil prices, have also kept investors cautious towards risk assets.
Markets are now turning their attention to upcoming US inflation and employment data for further clues on the Federal Reserve’s rate path.
Expectations for an October rate hike eased after New York Fed President John Williams said there was no urgency to tighten policy again, although persistent inflation continues to keep further rate increases in play.
