Australia raised its cash rate to 4.85%, an 18-year high. On November 3, the Reserve Bank of Australia raised rates by 25 basis points, with 6 votes in favor and 3 supporting holding at 4.60%. Inflation is now expected to return to the upper end of the 2%–3% target range only by the end of 2027, about three quarters later than previously forecast (official RBA data, Cointelegraph). The central bank cited AI-related investment pushing up prices for technology goods, while conflict in the Middle East is driving up fuel and commodity prices.
This marks a divergence from the US Federal Reserve, which held rates steady last week. Australia’s rate hike will not directly determine dollar liquidity, but it shows that AI capital spending and energy prices are delaying global rate-cut trades. Interest-rate sensitivity will remain in focus for long-duration risk assets such as BTC and technology stocks. Binance snapshot at 13:00 on November 3: BTC at $76,958.01 (-1.888%), with a 24-hour range of $76,541.60–$78,470.72.
Personal view: If the 4-hour chart reclaims 77,300 and holds above 76,800 on a retest, you could try going long, with targets at 78,470 and 79,500 and a stop-loss at 76,300. If it breaks below 76,542 and fails to reclaim it on a bounce, look for 75,500 and 74,000, with a stop-loss at 77,800. If upcoming CPI data shows easing pressure from energy and AI-related goods, or the Fed shifts back toward easing, the bearish case weakens.
Would a rate hike by a single central bank change your position?
$BTC
The above does not constitute investment advice