Bitcoin trades near $77,250 as investors brace for a likely Fed rate hike, with market attention turning to the Treasury's expanding role in shaping digital dollar policy and long-term bond yields.
Bitcoin faces selling pressure ahead of an expected Fed rate hike, with futures pricing an 86.5% probability, and the cryptocurrency has already retreated from recent highs around $82,000 to near $77,250.
Bitcoin faces mounting selling pressure as futures markets assign an 86.5% probability to a quarter-point Federal Reserve rate hike this Wednesday. The cryptocurrency has retreated from recent highs of $82,000, while analysts shift focus toward the Treasury Department's growing influence over digital asset regulation and bond market stability.
Bitcoin is facing selling pressure due to rising expectations of a Federal Reserve interest rate hike, which has climbed from 50% to over 86% following stronger-than-expected August inflation data.
Beyond managing bond market volatility through buyback programs, the Treasury is increasingly setting the regulatory framework for digital dollars and stablecoins, potentially sidelining the Federal Reserve's influence.