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Bitcoin Recovery Gaining Ground
Bitcoin prices are continuing to grind higher on Thursday as the recovery off the $80,195 level lows starts to gain traction. The futures market is now up more than 13% off the month’s lows, helped in part the dovish repricing we’ve seen in the Fed rates outlook recently. Market pricing for a December rate cut is now around 85% up from below 40% at the start of last week. This shift comes in response to mixed September labour market data, some dovish Fed commentary and weaker-than-forecast PPI and retail sales data on Tuesday. With traders now widely expecting the Fed to ease again we’ve seen a broad rebound in ... (full story)
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