Bitcoin price eyes $74K as Fed rate-hike bets hit 96% after Waller speech
Summary
Bitcoin fell 1.3% to about $74,080 as US stock futures also declined after Federal Reserve Governor Christopher Waller said he still supported a 25-basis-point rate hike at the December FOMC meeting, even if inflation eased. He cited September’s elevated PCE readings and warned that hotter-than-expected inflation could warrant stronger action. Markets raised the implied probability of a December hike from 76.3% to 96.3% after his remarks. The October CPI release was expected to show slower monthly inflation, but the government shutdown limited the report to month-on-month figures. Tighter monetary policy can weigh on crypto and other risk assets by reducing liquidity.
