Bitcoin (BTC) Macro News: December Fed Rate Cut Bets Hang in Balance

Odds of a Federal Reserve rate cut in December have fallen to about 52%, indicating increased investor uncertainty. A potential 25 basis point cut would lower the benchmark interest rate range to 3.5%-3.75%. The reduced likelihood of a rate cut may limit gains in Bitcoin and other cryptocurrencies, as the markets now reflect a significant decrease in confidence regarding the cut. Two weeks prior, the odds stood at 95%, dropping sharply to the current level. As a consequence, Bitcoin was trading close to $103,000, reflecting little change on the day. The diminishing expectations surrounding the Fed’s decision could continue to cap gains across the crypto market, with traders closely monitoring the situation as the December 10 meeting approaches.

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