Bitcoin Dips Below $83,000 Amid Four Fed Rate Hike Expectations

Bitcoin briefly dipped below $83,000 on September 24 as markets reacted to expectations of four additional Federal Reserve rate hikes by June 2027. This would push the federal funds target range up to 4.75%-5% from its current 3.75%-4%, representing a significant 100 basis points increase.

The increased borrowing costs are likely adding pressure to risk assets, with Treasury yields also rising. The 10-year yield surpassed 5.1%, its highest level since 2007, and the 20-year yield approached 5.5%. In response, the dollar index climbed above 101.