Bitcoin rebounds above $70,000, but market sees 85% odds of a Fed rate hike
- —BTC rebounded from $60,000 to above $70,000, but is 50% below its $126,000 peak
- —The market is pricing in about an 85% chance of a Fed rate hike on Sept. 16
- —The 25-delta options skew turned positive for the first time in 12 months
- —Bitcoin ETF inflows were about $2 billion in the week of Aug. 17
Why it matters: The outcome of the Fed meeting will determine whether BTC's rebound continues or rising yields cut it short.
Source: Cryptonews.com