Bitcoin surged above $85,000 to a high of $85,598.94 after August core PCE inflation came in at 3.0% year over year, below the 3.3% expected, while headline PCE reached 3.4% versus 3.7% forecast. The CME FedWatch tool now shows a 62% probability the Fed holds rates and a 37% chance of a 25 basis point hike in October. Bitcoin has since eased to $84,376, up 0.9%, while the total crypto market capitalization has gained 0.6% to just under $3 trillion. The 10-year Treasury yield remains around 5.25%, its highest since 2002, and consumer confidence hit a 12-year low. On prediction markets, traders assign just 7% odds of Bitcoin reaching its all-time high of $126,199 before 2027.
Source: Read the original article
Disclaimer: this content is for information purposes only and is not financial advice. Cryptocurrencies are highly volatile: you may lose all of your capital. Always do your own research. Legal notice
