Bitcoin Tests $81,000 as Rate Hike Fears Linger After Hot Inflation Data
Summary
Bitcoin recently tested the $81,000 level while broader financial markets reacted to hotter inflation data. This economic update has increased market expectations for a Federal Reserve rate hike, leaving the cryptocurrency trading within a range until monetary policy direction becomes certain.
Odds of an October Fed hike have climbed to 29% from 18% a week ago, and analysts see Bitcoin range-bound until the picture clears.
Source: Read the full story at Decrypt
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