The market now prices an 88.5 percent chance of a Fed hike in December. ⚠️
According to the CME FedWatch tool cited by bitcoin.com, traders priced an 88.5 percent probability of a quarter point hike in December on Saturday, and 11.5 percent for a half point move. 📊 CryptoCompass names United States rate expectations as the main driver of this sell off, with the 10 year yield at 5.15 percent leaving buyers without support. My reading is that crypto is trading like a risk asset again, and until the rate picture softens, every bounce fights a macro headwind.
Does a December hike kill any year end recovery, or is it already priced in? 🤔
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #Macro
According to the CME FedWatch tool cited by bitcoin.com, traders priced an 88.5 percent probability of a quarter point hike in December on Saturday, and 11.5 percent for a half point move. 📊 CryptoCompass names United States rate expectations as the main driver of this sell off, with the 10 year yield at 5.15 percent leaving buyers without support. My reading is that crypto is trading like a risk asset again, and until the rate picture softens, every bounce fights a macro headwind.
Does a December hike kill any year end recovery, or is it already priced in? 🤔
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #Macro
