Bitcoin at $77,250 before Fed decision: market expects rate hike
- —Futures give an 86.5% chance of a 25 bp Fed rate hike on September 16
- —BTC around $77,250, below $82,000 on September 4 when odds were 50/50
- —August CPI of +0.4% m/m and 3.4% y/y reinforced rate hike expectations
- —The Treasury doubled long-bond buybacks on August 19 to $4 billion, briefly pushing yields down
Why it matters: A rate hike could increase pressure on BTC, while shifting stablecoin regulation to the Treasury changes the rules of the digital dollar market.
Source: BeInCrypto IT