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

The probability of the Federal Reserve cutting interest rates has dropped drastically to 30%, down from 50% just days prior and a staggering 98% a month ago. This decline is largely attributed to complications from a government shutdown that has halted the release of crucial data, including October's jobs numbers, thus complicating policymakers' ability to make informed decisions. Minutes from the October Fed meeting indicate significant division among policymakers regarding whether to pause or cut rates. As a result, Bitcoin's price remains relatively stable at around $91,700, reflecting a minimal 0.8% increase over the past 24 hours. The current uncertainty in economic data could further impact the market as investors assess what these developments mean for the future of interest rates and its implications for cryptocurrencies.

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