Bitcoin Ranges Near $83K as Traders Look to US Inflation Data

Bitcoin inched higher on Monday, trading at $83,327, up 0.6% over the past 24 hours, according to CoinGecko data . The asset is still down 2.9% over the past week. The cryptocurrency has "struggled against an increasingly challenging macroeconomic backdrop," Daniela Hathorn, senior market analyst at Capital.com, told Decrypt . "Rising energy prices have reignited inflation concerns, pushing US Treasury yields higher and strengthening the dollar as investors reassess the Federal Reserve's interest-rate trajectory," she said.