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The probability of a rate cut by the Federal Reserve for December fell to a level near the currency launch, signaling growing uncertainty among investors ahead of the December 10 meeting, according to data source CME’s FedWatch tool.
Markets now price about 52% probability of a cut of 25 basis points, dramatically from 95% a month ago and 65% a week ago. A potential cut of 25 bps would push the benchmark interest rate range to 3.5%-3.75%.
The dwindling probability of the December cut could continue to cap gains in BTC and other cryptocurrencies. As of writing, BTC has changed hands near $103,000, trading little changed on the day, according to CoinDesk data.
