Cryptocurrency News Today TheBitTimes.com

US CPI inflation data landed right on target Thursday, cementing expectations of a Federal Reserve rate cut next week and triggering a modest dip in crypto prices. The Consumer Price Index (CPI) rose 2.9% year-on-year in August, in line with forecasts, while core CPI (excluding volatile food and energy prices) advanced 0.4% from July, slightly above estimates , data from the Bureau of Labor Statistics showed.  Polymarket bettors quickly priced in a September rate cut, with odds of a 25 basis point cut surging from 79% before the data to as high as 91%, before falling back to near 84%. Polymarket September rate cut contract (Source: Polymarket ) Conversely, odds of 50 bps rate cut plummeted from 18.9% to 9.1% before rising to 14%. A soft jobs report on Friday and Wednesday’s weak PPI numbers had boosted bets on a bumper rate cut this month. The CME FedWatch tool also reflects near-unanimous expectations, with analysts assigning a 90.8% chance the Fed trims rates by ...

Bitcoin markets are watching closely. The Federal Reserve might cut rates in December. This could push crypto prices higher. Market data shows a 74.5% chance of a 0.25% rate cut. Bitcoin investors are now studying what this means for digital assets. Also Read: OPEC+ Holds Firm: What Tight Oil Prices Mean for Global Markets Fed Rate Cuts, Bitcoin Price Predictions, and Investor Concerns Explained Source: piguetgalland.ch Markets eagerly await the Fed’s third rate cut this year. Interest rates now sit between 4.5% and 4.75%. This rate has become key for Bitcoin investors trying to read market signals. The Rate Cut Connection Fed officials have raised hopes for Bitcoin price predictions. On December 2nd, Governor Christopher Waller hinted at supporting a rate cut. New York Fed President John Williams also suggested gradual rate drops. These statements have lifted market hopes. Also Read: Ripple XRP Outperforms Bitcoin, Solana: $3.40 Soon? Expert Predictions and Market Analysis Bitco...