CPI came in hot on both measures, and the Fed hike is now almost fully priced in. ⚠️
The Bureau of Labor Statistics reported October CPI up 0.4 percent, above the 0.3 percent economists expected, and core CPI up 0.3 percent against a 0.2 percent forecast, with food up 0.5 percent, energy up 0.7 percent and housing up 0.3 percent, according to Bitcoin Magazine. 📰 Futures markets now put the chance of a December rate hike at 89 percent, up from about 70 percent last week, according to the CME FedWatch tool cited by Stocktwits, and Fed Governor Christopher Waller has said he is open to a half point move. My reading is that a hot print on both measures leaves the Fed little room to wait, so the market has to price higher rates for longer, and that is why Bitcoin fell below 74,000 dollars within minutes of the release.
Does a near certain December hike mean Bitcoin stays under pressure, or is the bad news already in the price? 🤔
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #Fed
The Bureau of Labor Statistics reported October CPI up 0.4 percent, above the 0.3 percent economists expected, and core CPI up 0.3 percent against a 0.2 percent forecast, with food up 0.5 percent, energy up 0.7 percent and housing up 0.3 percent, according to Bitcoin Magazine. 📰 Futures markets now put the chance of a December rate hike at 89 percent, up from about 70 percent last week, according to the CME FedWatch tool cited by Stocktwits, and Fed Governor Christopher Waller has said he is open to a half point move. My reading is that a hot print on both measures leaves the Fed little room to wait, so the market has to price higher rates for longer, and that is why Bitcoin fell below 74,000 dollars within minutes of the release.
Does a near certain December hike mean Bitcoin stays under pressure, or is the bad news already in the price? 🤔
Follow for more trades.
#Crypto #Bitcoin #FuturesTrading #TradingSignals #Fed
