Bitcoin braces for Fed decision as BLS collected only 66.3% of price data
- —BLS collected 66.3% of targeted price quotes in September, versus 65.9% in August and 67.6% a year earlier
- —US CPI accelerated to 3.7% year-over-year in September from 3.4% in August
- —Rate futures price nearly an 80% chance of a December Fed hike
- —Two-year Treasury yields near 4.8% raise the opportunity cost of holding bitcoin
Why it matters: Incomplete inflation data complicates the Fed's October 28 decision, which will likely set bitcoin's direction around the $80,000 level.
Source: CryptoSlate