Bitcoin (BTC) Macro News: Fed December Rate Cut Odds Collapse to 30%

The probability of the U.S. Federal Reserve cutting interest rates by 25 basis points in December has significantly decreased to 30%, down from 50% a day or week prior, and sharply lower than 98% a month ago, according to CME's FedWatch tool. This decline in conviction stems from concerns over a prolonged data blackout, as the Labor Department canceled the release of October jobs data following a record-length government shutdown, making informed policymaking difficult. Concurrently, minutes from the October Fed meeting revealed significant internal disagreements regarding whether to pause or cut rates. At the time of reporting, Bitcoin was trading at $91,700, showing a slight 0.8% increase over 24 hours.

(Source：CoinDesk)