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AI summary of a third-party reportBearishNewsDesk

Bitcoin slips toward $74,000 as Waller backs December rate hike

Bitcoin fell 1.3% to $74,080 and Nasdaq futures dropped after Fed governor Christopher Waller said he would back a 0.25% rate rise on 9 December, whatever Tuesday's CPI shows.

Why it matters: Rate-hike expectations have historically weighed on crypto and risk assets by reducing liquidity, and traders are now pricing a December move at 96.3%.

InvestIn.News NewsDesk · 1 min read
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Picture from Cointelegraph for: Bitcoin slips toward $74,000 as Waller backs December rate hike
Image: Cointelegraph
Original reporting: William Suberg, Cointelegraph

Key points

  • Waller said he would support a 25-basis-point hike at the FOMC meeting on 9 December even if inflation improves.
  • CME FedWatch odds of a December hike rose from 76.3% to 96.3% after his speech.

Bitcoin fell toward $74,000 on 10 November as traders priced in a December Fed rate hike following comments from governor Christopher Waller.

Speaking at the Bank of England Watchers Conference in London, Waller said he would back a 25-basis-point increase at the FOMC meeting on 9 December even if October inflation comes in softer than expected.

October CPI is due at 8.30am Eastern time on Tuesday, with a 0.3% monthly rise expected against September's 0.6%. The Bureau of Labor Statistics said the release will carry only monthly figures because the 2025 government shutdown reduced data availability.

After the speech, CME Group's FedWatch Tool showed the odds of a December hike jumping from 76.3% to 96.3%. Tightening policy is traditionally a headwind for crypto and other risk assets, as it implies less liquidity flowing into markets.

What to watch: October CPI is due for release at 8.30am Eastern time on Tuesday, and the FOMC meets on 9 December.

Read the full story on Cointelegraph

Live updates on NewsFeeds:MacroBitcoinDesk editor: Keshav Aggarwal (accountable for this page; this summary was not edited by hand)

How this was produced: an AI model wrote this summary of Cointelegraph’s report, which we credit and link above. Read our Editorial and AI policy. Spotted a mistake? See Corrections.

Not investment advice. Read the risk disclaimer.

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