NewsHK
Short-term US inflation data is shifting the rate calculus heading into the Federal Reserve's September 16 meeting, and Bitcoin ($BTC) is trading the signal.
Three-month core inflation has slid from 4.76% in February to 3.05% through July, a trajectory that Fed Governor Christopher Waller described as "a considerable improvement." That shift in tone was enough to lift BTC to around $81,400 on September 3, its highest intraday level since May.
The disinflation read-through for risk assets Against the backdrop of Chair Kevin Warsh's hawkish Jackson Hole speech, which had swung market expectations sharply toward another hike, Waller's comments landed as a meaningful counter-signal.
Rate-hike expectations for September fell from roughly 59% to near 50% after he spoke. Two-year Treasury yields declined and the dollar weakened.
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