Bitcoin (BTC) price trades below $84,000 on Thursday, extending losses after a 2% decline the previous day. The pullback aligns with renewed inflation and rate-hike concerns, as US composite and services PMIs rose to 58.4 and 58.7 in September. Worldcoin (WLD) and Pepe (PEPE) recorded double-digit losses over the last 24 hours, emerging as the worst performers.
Crypto market risk-on sentiment takes a hit
The US composite and services PMIs rose to 58.4 and 58.7 in September, suggesting increased prices paid by businesses, as previously reported by FXStreet. This adds to inflation concerns and increases the odds that the US Federal Reserve (Fed) will raise interest rates at its October meeting.
The FedWatch Tool indicates a roughly 70% probability that the Fed could raise rates by 25 basis points (bps) to the 400-425 bps range. Supporting the odds, Polymarket bets on “Fed Decision in October?” totaling $11.56 million in volume indicate a higher likelihood of a 25 bps rate hike, while rate-cut odds are down to less than 1%.
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CRYPTOS
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09/24/2026 04:18:11 GMT
Crypto Market Overview: Bitcoin slips to $84,000 on rate hike bets – Worldcoin, Pepe lead losses
Bitcoin hovers around $84,000 on Thursday, facing downside risks after a 2% decline the previous day.
The US composite and services PMIs rose in September, raising inflation concerns.
Worldcoin and Pepe record double-digit losses over the last 24 hours, emerging as the worst performers.

Vishal DixitFXStreet
Bitcoin (BTC) price trades below $84,000 on Thursday, extending losses after a 2% decline the previous day. The pullback aligns with renewed inflation and rate-hike concerns, as US composite and services PMIs rose to 58.4 and 58.7 in September. Worldcoin (WLD) and Pepe (PEPE) recorded double-digit losses over the last 24 hours, emerging as the worst performers.
Crypto market risk-on sentiment takes a hit
The US composite and services PMIs rose to 58.4 and 58.7 in September, suggesting increased prices paid by businesses, as previously reported by FXStreet. This adds to inflation concerns and increases the odds that the US Federal Reserve (Fed) will raise interest rates at its October meeting.
The FedWatch Tool indicates a roughly 70% probability that the Fed could raise rates by 25 basis points (bps) to the 400-425 bps range. Supporting the odds, Polymarket bets on “Fed Decision in October?” totaling $11.56 million in volume indicate a higher likelihood of a 25 bps rate hike, while rate-cut odds are down to less than 1%.


Bitcoin risks a steeper decline below $84,000
Bitcoin trades around $83,915 at press time on Thursday, trading in the red for the third consecutive day. Still, BTC maintains a long-term upside bias, trading above the 50-, 100-, and 200-day Exponential Moving Averages (EMAs) at $76,122, $73,074, and $76,122, respectively.
The Relative Strength Index (RSI) at 63 on the daily chart slips below the overbought zone, while the Moving Average Convergence Divergence (MACD) holds above the signal line as the histogram profile wanes, suggesting easing upside tone.
On the downside, initial support emerges at the reclaimed $82,500 level, followed by the 50% retracement measured from $97,924 to $57,800 at $75,233 and the 50-day EMA at $76,122.
