Bitcoin at $77,250 ahead of Fed rate decision
- —Futures price an 86.5% probability of a 0.25 pp Fed rate hike
- —US August inflation: +0.4% m/m versus +0.1% in July, 3.4% year-on-year
- —Bitcoin at $77,250 — several thousand dollars below early September levels
- —The US Treasury has doubled long-term bond buybacks since August 19 to $4 billion per operation
Why it matters: The Fed's September 16 decision will set the market's direction: a tight rate pressures bitcoin, while rising inflation lowers the chances of policy easing.
Source: BeInCrypto JP