The cryptocurrency has risen 16.3% so far this year, on Monday touching its highest since Dec. 27, 2021. At 12:56 p.m. EST (1756 GMT), bitcoin was up 4.96% on the day at $49,899, having oscillated around the $50,000 level.
Trading was largely subdued in Asia with markets in China and Hong Kong still closed for the Lunar New Year holidays and traders on guard ahead of Tuesday’s release of consumer prices data in the world’s largest economy.
Most Asian currencies weakened on Tuesday, while the dollar firmed as markets hunkered down before key U.S. inflation data that is widely expected to factor into the path of interest rates.
Gold prices kept to a tight range on Tuesday, remaining under pressure from the dollar as investors hunkered down before inflation data that is widely expected to factor into the Federal Reserve’s plans for interest rates.
The worst performers of the session were JGC Corp. (TYO:1963), which fell 17.45% or 301.00 points to trade at 1,423.50 at the close. Nippon Paper Industries Co., Ltd. (TYO:3863) declined 15.71% or 222.00 points to end at 1,191.00 and Nippon Sheet Glass Co., Ltd. (TYO:5202) was down 9.59% or 58.00 points to 547.00.
