Bitcoin rebounded from around $69,000 to as high as $70,000 after the release of October U.S. producer price data, but was trading around $69,800 and remained down more than 3% on the day, according to TradingView. The Bureau of Labor Statistics reported that the producer price index rose 6.5% year over year and 0.3% month over month, below expectations; core producer prices matched expectations at 5.0% and 0.3%, respectively.
Polymarket data showed traders put the chance of a 50-basis-point Federal Reserve rate hike in December at 6%, down from as high as 10%. It showed a 92% chance of a 25-basis-point hike. These were bets, not Fed decisions, and the source did not give a year for October or December.
