Goldman Sachs Predicts Fed Rate Hike Amid Bitcoin Price Fluctuations
- Goldman Sachs now expects a Federal Reserve rate hike of 25 basis points on September 16, raising the federal funds target to a range of 3.75%.
- CME Fedwatch odds for a September rate increase surged from approximately 69% to over 86% following the release of August’s core CPI data.
- Bitcoin‘s price experienced volatility as its daily chart’s golden cross was not confirmed, with the price failing to break the $80,000 level.
The expectation of a Federal Reserve rate hike has been reinforced by Goldman Sachs and other major banks in response to higher-than-expected core CPI inflation data for August. This development has influenced market dynamics, including fluctuations in Bitcoin‘s price, which remains below $80,000 amid broader economic uncertainties.
With CME Fedwatch odds nearing a consensus on the rate hike, markets are closely monitoring potential future actions by the Fed that could further impact financial markets and cryptocurrency trends. (Source)
