๐จ BITCOIN REMAINS WEAK DESPITE LOWER FED HIKE ODDS!
#CPIWatch ๐
September CPI inflation reached 3.7% year over year, while core inflation came in at 2.6%. Both figures were higher than expected.
Initially, markets raised the chances of an October Fed rate hike to nearly 50%. But sentiment shifted quickly.
By late Wednesday, CME FedWatch showed the probability falling to around 26%, with Reuters later reporting it had dropped below 25%.
Yet, $BTC
still failed to reclaim the $81,000 level. ๐
What's behind the continued pressure?
๐ฐ US spot Bitcoin ETFs recorded $150.5 million in net outflows on October 14, reversing some of the optimism after $175.7 million in inflows the previous day.
The crypto market is reacting to several factors at once: ๐น Inflation data ๐น Fed rate expectations ๐น Institutional investment flows ๐น Overall market sentiment
โ ๏ธ A lower chance of a rate hike doesn't automatically mean Bitcoin will recover. Traders should watch key price levels and market conditions before making decisions.
#Bitcoin #BTC #CryptoMarket #Inflation
#CPIWatch ๐
September CPI inflation reached 3.7% year over year, while core inflation came in at 2.6%. Both figures were higher than expected.
Initially, markets raised the chances of an October Fed rate hike to nearly 50%. But sentiment shifted quickly.
By late Wednesday, CME FedWatch showed the probability falling to around 26%, with Reuters later reporting it had dropped below 25%.
Yet, $BTC
still failed to reclaim the $81,000 level. ๐
What's behind the continued pressure?
๐ฐ US spot Bitcoin ETFs recorded $150.5 million in net outflows on October 14, reversing some of the optimism after $175.7 million in inflows the previous day.
The crypto market is reacting to several factors at once: ๐น Inflation data ๐น Fed rate expectations ๐น Institutional investment flows ๐น Overall market sentiment
โ ๏ธ A lower chance of a rate hike doesn't automatically mean Bitcoin will recover. Traders should watch key price levels and market conditions before making decisions.
#Bitcoin #BTC #CryptoMarket #Inflation