Bitcoin Eases to One-Month Low on Rising Fed Rate-Hike Bets — Market Talk
Bitcoin dips to a one-month low after hotter-than-expected U.S. CPI data drives up market expectations for a Fed rate hike later this month. The cryptocurrency hit a low of around $80,247 in Asia, according to LSEG data. "October is once again very much a live month for the Fed, after a seesaw few weeks that has seen the chances of an October move gyrate wildly," IG analysts say in a note. The resurgent dollar and revived bond yields don't bode well for bitcoin and precious metals, they say. Higher borrowing rates tend to weigh on risk appetite, pressuring cryptocurrencies. Bitcoin is 0.9% lower at $81,003.80. ([email protected])