Bitcoin holds $73,000 as odds of a December 50 bps rate hike jump

The odds of a 50-basis-point Federal Reserve hike in December rose from 0% to 13.6% on Nov. 10 after October CPI beat forecasts, as Bitcoin fell to an intraday low below $73,000. Meanwhile, the odds of a 25-basis-point hike climbed from 84% to 86.4%, according to a Nov. 10 CME FedWatch snapshot reported by Barron's. Headline CPI rose 0.4% versus a 0.3% forecast, and core rose 0.3% versus 0.2%, meeting the condition Governor Christopher Waller set for considering a 50 bps move . The market is pricing more tightening, with 25 bps the dominant outcome. The no-hike probability dropped from 16% to 0%, so the 25 bps odds rose alongside the 50 bps odds.

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