Fed Hike Odds Hit 84% After Bitcoin ETFs Lose $1.28 Billion

Fed hike odds for December have climbed to 84%, according to CME Group’s FedWatch tool. US spot Bitcoin (BTC) exchange-traded funds (ETFs) shed $1.28 billion last week. FedWatch derives its odds from fed funds futures. Those contracts give a hold just 15.6%, against 84.4% for a hike to 4.00% to 4.25%. The outflows were the largest weekly total since late June, data tracker SoSoValue reports. Why Are Fed Hike Odds Rising While Stocks Rebound? The Federal Reserve held rates at 3.75% to 4.00% on October 28, though two officials dissented for a hike. The October jobs report then showed 165,000 new positions against forecasts of 65,000. The unemployment rate fell to 4.1%. Hike odds rose to roughly 77% after the data.

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