0945 GMT - Bitcoin edges lower on market volatility and investor caution ahead of U.S. inflation data, Zaye Capital Markets analyst Naeem Aslam says in a note. The inflation data at 1330 GMT could affect broader financial markets and cryptocurrency valuations, he says. "Additionally, recent geopolitical tensions and economic uncertainties have contributed to the cautious sentiment among investors." The cryptocurrency market, particularly bitcoin, might have reached a peak, he says. The surge in so-called memecoins and President Trump's involvement in launching new cryptocurrencies are signs of potential market overheating. Zaye maintains a positive long-term view on bitcoin but advises caution due to macroeconomic concerns. Bitcoin falls 0.3% to $96,130, according to LSEG. (renae.dyer@wsj.com)
(END) Dow Jones Newswires
February 12, 2025 04:45 ET (09:45 GMT)
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