Federal Reserve officials face a critical policy test next week as financial markets now assign an 87% probability to a 25-basis-point rate increase at the September 15–16 meeting. The sharp repricing follows August consumer price index data that showed inflation remaining stubbornly above the central bank’s 2% target. With Bitcoin trading near $77,256, cryptocurrency traders ...
Bitcoin’s Daily Golden Cross Fails as Hawkish Fed Expectations Trigger Pullback Bitcoin’s brief daily golden cross collapsed Friday evening as the 50-day exponential moving average (EMA) slipped back below the 200-day EMA, reversing a bullish signal that had confirmed earlier in the session. The cryptocurrency retreated to $77,438 after reaching an intraday high near $79,837, ...
Grayscale’s Head of Research, Zach Pandl, suggests the latest U.S. inflation data could present a temporary speed bump for cryptocurrency markets. The August Consumer Price Index (CPI) report revealed hotter-than-expected headline inflation, increasing the probability of another Federal Reserve rate hike. August CPI Details: Headline Heat, Core Cooling The Bureau of Labor Statistics reported that ...