Bitcoin Holds Near $77k as Fed Hike Odds Hit 86.5%
Bitcoin trades near $77,250 as markets price 86.5% chance of Fed rate hike on Wednesday; Treasury's role in digital dollars debated.
Bitcoin trades near $77,250 as markets price 86.5% chance of Fed rate hike on Wednesday; Treasury's role in digital dollars debated.
New Zealand's services sector expanded for a third month in August, with the PSI rising to 51.2, though fragility remains.
ECB President Lagarde says inflation shock will persist, warns on AI valuations. Deposit rate at 2.5%.
The US housing market saw a record surplus of sellers over buyers in August, raising concerns for stocks and Bitcoin as high rates pressure demand.
Gold near $4,347 neckline; CPI data may decide if break to $3,950 occurs. Pattern unconfirmed.
Bitcoin faces near-term pressure from hot inflation data but long-term support from a failed Treasury buyback program, per CoinShares.
August CPI data kept the Fed on track for a rate hike, pushing Treasury yields higher, while US stocks rebounded.
US stocks rallied sharply Friday but major indexes still posted weekly losses after a hot CPI report raised rate hike expectations.
JPMorgan predicts Fed rate hikes in September and December; market had already priced in 86%.
The August US budget deficit was $167 billion, well below the $404 billion consensus, after a near-record $432 billion shortfall the prior month.
Traders see 86.9% chance of Fed rate hike next week, contradicting Trump's promises. Kevin Warsh has yet to cut rates since becoming chair.
ECB's Lane warns sustained energy price increases may curb autumn consumption. Odds of consecutive ECB rate hikes are slightly over 50%.
Bitcoin rose nearly 2% to close to $79,000 on Friday, shrugging off data showing U.S. inflation accelerated in August.
University of Michigan consumer sentiment for September came in at 47.8, below the 51.0 forecast.
US CPI data initially boosted September rate hike odds above 90%, but markets reversed with stock futures rising and the dollar retreating.