Weak US data cuts rate-hike bets, bitcoin steadies
With consumer confidence at its lowest since 2014, odds of an October Fed hike fell from 71% to 52%. Bitcoin trades around $83,600.
The data
US consumer confidence fell to 81.9 in September, the lowest since 2014, and August job openings came in at 7.08 million against 7.23 million expected. Odds of an October hike dropped from 70.9% to about 51.5%.
Crypto
Bitcoin closed Tuesday at $83,622 and touched $85,594 on Wednesday before giving back the gain. US spot bitcoin ETFs logged an eighth straight day of inflows, while 10-year and 30-year yields at 5.25% and 5.57% capped the upside. A positive September close would be the fourth in a row; September was negative in eight of 13 years from 2013 to 2025.
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