Bitcoin in Stasis Below $27K Ahead of Powell Speech

Bitcoin in Stasis Below $27K Ahead of Powell Speech

The crypto market remained risk-averse early Friday, with the focus turning to an impending speech by Fed Chair Jerome Powell following Thursday’s hawkish comments by other central bank officials.

Bitcoin (BTC) traded flat at just below $27,000, following Thursday’s 2% decline. Other major coins except Ripple’s XRP nursed moderate losses. In traditional markets, the dollar index pulled back to 102.30 from the two-month high of 103.62 and futures tied to Wall Street’s tech-heavy Nasdaq index signaled a flat open.

Treasury yields rose alongside an increased probability of the Fed delivering another 25 basis point interest rate hike next month, helping keep investor risk appetite under check. The yield

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