Fed Rate Hike Odds Surge to 86.5%, Putting Crypto Rally in Jeopardy

The crypto market faces pressure from a looming Fed rate hike, which has raised odds of a September 16 decision to 86.5%, according to the CME FedWatch tool.

This increase follows fresh inflation data, with U.S. CPI rising 3.4% year-over-year in August. A rate hike would be the first in three years and signal a tighter policy stance.

Despite this, Bitcoin's chart structure still points toward higher levels, says analyst Michaël van de Poppe, who expects consolidation before an upward push to the $90,000 to $92,000 resistance zone.