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Bitcoin holds $73,000 as odds of a December 50 bps rate hike jump

By Gino Matos

The odds of a 50-basis-point Federal Reserve hike in December rose from 0% to 13.6% on Nov. 10 after October CPI beat forecasts, as Bitcoin fell to an intraday low below $73,000. Meanwhile, the odds of a 25-basis-point hike climbed from 84% to 86.4%, according to a Nov. 10 CME FedWatch snapshot reported by Barron's.……

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#Interest rates#Fed#Inflation

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Bitcoin

The first and largest cryptocurrency, created in 2009, with a fixed maximum supply and no central issuer.

Its price swings and adoption by funds and companies make it a bellwether for the whole crypto market.

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Federal Reserve

The central bank of the United States, which sets US interest rates and supervises banks.

Because the dollar is used worldwide, its rate decisions affect borrowing costs and markets in many other countries.

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