Bitcoin eases after reaching a two-week high overnight as its recent appreciation loses steam. The pullback comes as tech shares are under renewed pressure after Samsung's results failed to impress lofty expectations. Geopolitical concerns also flare up again after Iran's Islamic Revolutionary Guard Corps fired missiles at two commercial ships near the Strait of Hormuz early Tuesday, the WSJ reports, citing a U.S. official. Bitcoin falls 0.7% to $63,355 after hitting a high of $64,539 overnight, according to LSEG. Bitcoin's recent recovery reflects a trimming of U.S. interest-rate rise expectations after last week's weak U.S. jobs data, although markets still expect tightening by year-end.(renae.dyer@wsj.com)
Dow Jones Newswires
Bitcoin's Recent Recovery Pauses — Market Talk
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Bitcoin eases after reaching a two-week high overnight as its recent appreciation loses steam. The pullback comes as tech shares are under renewed pressure after Samsung's results failed to impress lofty expectations. Geopolitical concerns also flare up again after Iran's Islamic Revolutionary Guar…