Crypto
Fed Rate Hike Odds Surge to 86.5%, Threatening Crypto Market Rally
The odds of a Fed rate hike on September 16 have surged to 86.5%, posing a new macroeconomic challenge for Bitcoin, Ethereum, and XRP.
According to the CME FedWatch tool, a 25 bps hike in the Fed's target range would be the first increase in three years, weighing heavily on the crypto market.
Crypto analyst Michaël van de Poppe notes that Bitcoin is making progress towards absorbing its prior drop and pushing towards a significant resistance zone at $90,000-$92,000.
Ethereum also faces a crucial test as it approaches its $2,550 resistance level, with a potential surge to $3,000 if the weekly chart holds above this threshold.