Bitcoin Under Pressure, Two-Year Treasury Yield Rises to 21-Month High as US Inflation Report Looms

Bitcoin Under Pressure, Two-Year Treasury Yield Rises to 21-Month High as US Inflation Report Looms
Bitcoin fell as bond yields rose ahead of a U.S. inflation report that could seal the deal for a faster unwinding of stimulus by the Federal Reserve (Fed).CoinDesk 20 data shows the cryptocurrency declined 1.5% to $47,900 in the past 24 hours, with prices down 2.25% for the week.The U.S. consumer price index (CPI) report scheduled for release at 13:30 UTC is forecast to show the cost of living in the world’s largest economy increased at an annualized 6.6% in November, following October’s 6.2% print, according to FXStreet.“We expect headline inflation to push towards the 7% level, and to fall…