US services price gauge hits four-year high, clouding Bitcoin's rate-relief outlook
- —ISM services prices index hit 74.0 in September, up from 72.6 in August
- —Services PMI eased to 54.9; business activity fell to 56.5 from 61.7
- —Employment returned to expansion at 50.1 from 47.8
- —Bitcoin traded near $85,580, down 0.04% over 24 hours
Why it matters: Persistent cost pressure makes near-term Fed rate relief less likely, which could weigh on financing-sensitive leveraged Bitcoin positions.
Source: CryptoSlate