Bitcoin Steady Near $82,000 as Fed Rate-Hike Expectations Ease
Summary
- Bitcoin (BTC) was holding steady near $82,000.
- Expectations for Fed rate hikes eased, pushing the probability of an October increase down to 15% from 27%.
- Bitcoin was trading at $80,828.02 on Binance’s Tether (USDT) market, down 2.15% from a day earlier.
Forecast Trend Report by Period
Bitcoin traded little changed near $82,000, holding steady as South Korean stocks rebounded and expectations for further Federal Reserve rate hikes eased.
Cointelegraph, a digital-asset news outlet, reported on October 16 that Bitcoin was trading near $82,000. South Korea’s stock market rebounded 2% the same day.
Fed Chair Kevin Warsh did not offer a clear signal on the possibility of additional rate hikes. As a result, the market-implied probability of an October rate increase fell to 15% from 27% a day earlier.
Meanwhile, the yield on the 10-year U.S. Treasury rose as high as 5.13% during the session. U.S. stocks were mixed, with major indexes moving in different directions.
Bitcoin was trading at $80,828.02 as of 2:20 a.m. on October 17 on Binance’s Tether (USDT) market, down 2.15% from a day earlier.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.