Fed Hike Odds Fall to 22% as Bitcoin Gains 1%

Fed rate hike expectations have declined, with the probability of a hike in October now at 22%, down from 66% earlier in the week, according to Glassnode.

The decline in rate hike expectations comes after comments from Fed officials, softer-than-expected inflation data, and a weaker September jobs report.

The US added 29,000 jobs in September, below the 84,000 expected, while the unemployment rate was 4.2%.

Bitcoin gained about 1% over the week as rate hike expectations declined, while its reaction to individual economic developments remained limited.