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Bitcoin edges lower as odds of October Fed rate hike jump to 75 percent

Bitcoin slips back to around $84,490 as markets factor in a greater chance of additional U.S. Federal Reserve rate hikes amid rising inflation concerns. CME FedWatch puts the probability of an October rate increase at about 75 percent and December at about 59 percent. The Fed raised its benchmark rate by 0.25 percentage point on Sept. 16 to a 3.75 to 4 percent target range. Most major cryptocurrencies move lower or flat, while derivatives liquidations total $348.33 million.

Crypto

Fed raises policy rate by 25 bps; what does it mean for bitcoin?

The U.S. Federal Reserve raised its benchmark interest rate by 0.25 percentage point, the first hike since 2023, lifting the target range for the federal funds rate to 3.75 to 4.00 percent. The move largely matched expectations and won unanimous support from all 12 FOMC members. Crypto markets fell about 2.18 percent on the day. Bitcoin briefly rose near $75,900 before slipping back toward $75,100, while holding a closely watched support zone.

Crypto

Why bitcoin cannot clear $80,000 as oil surge to $100 adds pressure

Bitcoin erased overnight gains after U.S. stocks opened on Sept. 9, as investors grew cautious ahead of U.S. producer and consumer price data. Major altcoins also fell. Brent crude climbed above $100 a barrel for the first time since July 23, adding pressure on risk assets, while Treasury yields stayed high. Spot bitcoin ETF flows turned negative on Sept. 8. In contrast, Zcash surged on ETF-related developments and the launch of options trading.