đš The Fed-hike scare faded. Bitcoin still couldn't reclaim $81K.
#cpiwatch
September CPI came in at 3.7% annually, while core inflation reached 2.6%âboth above expectations.
Markets initially pushed the implied probability of an October Fed hike toward 50%.
Then the trade reversed.
By late Wednesday, CME FedWatch's estimate had fallen to around 26%. Reuters subsequently reported that the probability had dropped below 25%.
So why is Bitcoin still under pressure?
There is another piece of the puzzle: US spot Bitcoin ETFs recorded $150.5M in net outflows on October 14, following $175.7M in inflows the previous day.
The market is dealing with more than one variable: inflation, rates, institutional flows and risk appetite.
And three hikes priced through 2027 do not mean three hikes are imminent.
My key signal: watch whether ETF flows stabilize alongside Treasury yields. A reversal in rate expectations alone may not be enough to restore demand.
Is Bitcoin selling the inflation outlookâor the uncertainty surrounding it?
Not financial advice.
$BTC $ETH $BZ
#CPIWatch #BTCFallsBelow$81K #TradersBetOnThreeMoreFedHikes #USSeptemberCPIRisesTo3.7%
#cpiwatch
September CPI came in at 3.7% annually, while core inflation reached 2.6%âboth above expectations.
Markets initially pushed the implied probability of an October Fed hike toward 50%.
Then the trade reversed.
By late Wednesday, CME FedWatch's estimate had fallen to around 26%. Reuters subsequently reported that the probability had dropped below 25%.
So why is Bitcoin still under pressure?
There is another piece of the puzzle: US spot Bitcoin ETFs recorded $150.5M in net outflows on October 14, following $175.7M in inflows the previous day.
The market is dealing with more than one variable: inflation, rates, institutional flows and risk appetite.
And three hikes priced through 2027 do not mean three hikes are imminent.
My key signal: watch whether ETF flows stabilize alongside Treasury yields. A reversal in rate expectations alone may not be enough to restore demand.
Is Bitcoin selling the inflation outlookâor the uncertainty surrounding it?
Not financial advice.
$BTC $ETH $BZ
#CPIWatch #BTCFallsBelow$81K #TradersBetOnThreeMoreFedHikes #USSeptemberCPIRisesTo3.7%