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 recovered to nearly $82,000 during Asian trading Friday as gold, Asian stocks and Nasdaq futures rebounded while the Japanese yen surrendered early gains. – About $435 million in cryptocurrency futures positions were liquidated over 24 hours, including $385 million in bullish bets, as bitcoin tested its 50-day moving average. – Persistently high oil prices and weak demand for spot bitcoin exchange-traded funds, which recorded $381 million in outflows Thursday, could limit a broader rally in risk assets
Bitcoin The largest cryptocurrency by market value recovered to nearly $82,000 after hitting lows below $81,000 overnight, according to CoinDesk data. At the time of writing, bitcoin was testing its 50-day simple moving average, a widely followed gauge of near-term market momentum. Other cryptocurrencies, such as ether Crypto futures positions worth $435 million were liquidated over the past 24 hours, including $385 million in longs, a sign that leverage was skewed toward the bullish side.
Gold, a traditional haven asset, bounced back to $4,020 per ounce from an early low of $3,986, a level last seen on July 29. Major Asian equity indices, including Japan’s Nikkei and South Korea’s Kospi, also rebounded from session lows. Nasdaq futures rose 0.17% to 29,190, up from 29,022 earlier in the day.