Bitcoin Slips Toward $74K as Fed Hike Odds Hit 96% After Waller

Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure Bitcoin slips toward $74,000 after Fed Governor Christopher Waller backed a December rate hike. Market odds of a 25-basis-point increase surged to 96%. Bitcoin traded lower on Tuesday, approaching the $74,000 level, as Federal Reserve Governor Christopher Waller voiced clear support for raising interest rates at the December FOMC meeting. The remarks pushed market-implied odds of a 25-basis-point hike sharply higher and weighed on both crypto and U.S. equity futures. BTC fell about 1.3% on the day to roughly $74,080 on major exchanges. Nasdaq 100 futures declined around 0.4% ahead of the cash-market open. The move reflected a rapid reassessment of monetary policy expectations after Waller’s comments at the Bank of England Watchers Conference in London. Waller Signals Support for December Tightening In his speech, Waller stated that he would support a 25-basis-point increase in the federal funds rate at the December 9 FOMC meeting, regardless of Tuesday’s Consumer Price Index release. “While I am hoping for an improvement over September, even if this occurs, I would still support a 25...