Bitcoin is back below $81,000 as Fed rate uncertainty weighs
Source: CoinDesk ·
From the source
Bets on an October Fed rate hike briefly spiked to nearly 50% after Wednesday’s inflation report, but have since cooled. Bitcoin BTC $81,499.86 and global stocks are under pressure as Wednesday’s U.S. inflation data revived concerns that the Federal Reserve could raise interest rates this month. The largest cryptocurrency by market value was trading just below $81,000 early Thursday, down nearly 1% since midnight UTC. Prices came close to $80,000 on Wednesday before a brief rebound to about $81,500, but that gain has largely reversed during the Asian session, CoinDesk data show.Prices are down more than 2% in the past 24 hours. Tokens such as ether ETH $2,362.35 , XRP (XRP), solana (SOL) are down 3.5% to 4%. PYTH is the only top-100 cryptocurrency still up more than 7%. Traditional markets have also turned risk-averse. Nasdaq futures were down 1% at press time, extending Wednesday’s 2% decline, while South Korea’s KOSPI plunged 8% and triggered circuit breakers. Data released…