Investing.com– Bitcoin price moved marginally higher on Friday as markets turned cautious before more cues on U.S. interest rates from an address by Federal Reserve Chair Jerome Powell.
A broader risk-off move in financial markets weighed on crypto, while Bitcoin was also dented by fears of more token distributions by defunct exchange Mt Gox.
added just 0.1% to $61,040.0 by 08:57 ET (13:57 GMT).
Crypto markets were also somewhat spooked by a sharp appreciation in the , after Bank of Japan Governor Kazuo Ueda warned that interest rates could rise further.
Strength in the yen had unwound a carry trade earlier in August, battering most risk-driven markets. Bitcoin had also slumped as low as $49,000.
Bitcoin quashed by Mt Gox caution, Powell anticipation
Bitcoin was set for a middling weekly performance, with the token seeing short-lived breaks above $60,000 amid persistent…
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