Surging dollar forces Bitcoin sell-off as rate hike odds double
Summary
US September inflation exceeded forecasts, lifting money-market odds of another October Fed rate hike to about 47% from roughly 20%. Bitcoin fell to an intraday low of $81,588.88, while the two-year Treasury yield rose seven basis points to 4.872% and the dollar strengthened. Higher yields may weigh on Bitcoin by making interest-bearing assets more attractive, though the impact depends on whether yields remain elevated ahead of the Fed’s Oct. 27–28 meeting.
