Bitcoin retreats after overnight rise as Brent oil tops $100
Bitcoin retreats after overnight rise
Bitcoin reached $79,701.36 in the Asian and European sessions but gave back the gain during the first hours of New York trading. By midday the price was within $60 of Tuesday’s close, leaving the 24‑hour change flat.
Key numbers
- 24‑hour high: $79,701.36; low: $78,308.42.
- Current price: $78,591.04, down 0.1% on the day.
- Weekly change: +2.4%.
- Ethereum price: $2,497.54, down 0.2% on the day.
- Crypto market value: $2.79 trillion, up 0.04%.
- Bitcoin dominance: 56.5%.
Zcash ETF swap confirmed by SEC filing
Digital Currency Group exchanged 85,705 Zcash tokens for about $100 million of shares in the Grayscale Zcash ETF, as disclosed in an 8‑K filing. The swap was an in‑kind creation, meaning DCG gave tokens it already owned to receive fund shares.
Market sentiment and upcoming inflation data
Analysts noted that spot markets have been trading in tight ranges ahead of U.S. producer‑price and consumer‑price reports due later this week. Those inflation numbers are expected to influence the Federal Reserve’s policy decision.
Brent crude crosses $100
Brent oil rose to $100.74 a barrel, up 2.88% from the previous day’s settlement. The price move was the first time Brent settled above $100 since July 23.
Spot Bitcoin ETF outflows
U.S. spot Bitcoin exchange‑traded funds recorded a net outflow of $46.6 million on Tuesday, the first negative day since September 1. The previous three sessions had attracted more than $1 billion in total inflows.
