Bitcoin nears $65,000 as cooling U.S. inflation guts the Fed rate-hike trade

CoinDesk·

Bitcoin nears $65,000 as cooling U.S. inflation guts the Fed rate-hike trade

60-second summary

Bitcoin is nearing the $65,000 mark as the latest US inflation data cools down expectations for Federal Reserve rate hikes, significantly reducing the likelihood of a hike from 43% to 13%. Analysts are now closely monitoring the September FOMC meeting for further guidance, potentially impacting the market's positioning and influencing Bitcoin's trajectory.

The June CPI print pulled hike odds from 43% to 13%, with analysts now watching the September FOMC meeting for further cues on positioning.