Bitcoin is back below $84K. The cryptocurrency extended its decline Thursday after strong U.S. PMI data suggested the economy may be doing too well for easier monetary policy. Persistent price pressures are keeping inflation concerns—and risk assets—on edge.
Rate cuts? Markets are looking the other way. The CME FedWatch Tool puts the odds of an October 25-basis-point hike at around 70%, while Polymarket tells a similar story. Higher rates make safer dollar assets more attractive—not exactly Bitcoin’s favorite plot twist.
Altcoins didn’t get the memo. ETH, SOL and XRP are up 0.66%, 0.82% and 1.45%, respectively. But the bigger picture remains uncomfortable: strong growth, sticky inflation and tighter policy expectations are making the risk-on trade harder to love.
#BTC #ETH $XRP
$SOL
Rate cuts? Markets are looking the other way. The CME FedWatch Tool puts the odds of an October 25-basis-point hike at around 70%, while Polymarket tells a similar story. Higher rates make safer dollar assets more attractive—not exactly Bitcoin’s favorite plot twist.
Altcoins didn’t get the memo. ETH, SOL and XRP are up 0.66%, 0.82% and 1.45%, respectively. But the bigger picture remains uncomfortable: strong growth, sticky inflation and tighter policy expectations are making the risk-on trade harder to love.
#BTC #ETH $XRP
$SOL