Bitcoin Tests $81,000 as October Fed Hike Odds Rise
Edited by Steinar Vigdel Kolnes, Editor, Oslo
Bitcoin tested $81,000 as hotter inflation data fueled rate concerns, with the odds of an October Federal Reserve hike rising to 29%.
Bitcoin tested the $81,000 level as stronger-than-expected inflation data kept concerns about tighter U.S. monetary policy in focus, according to Decrypt.
The probability of a Federal Reserve interest rate increase in October reached 29%, up from 18% a week earlier. The shift reflects increased expectations of a hike, though it remains the less likely outcome.
Analysts cited in the report expect Bitcoin to trade within a range until the outlook becomes clearer, with uncertainty over the Fed’s next steps weighing on the market.
Source: Decrypt
