Fed Rate Hike Sends Shivers Down Bitcoin's Spine

The likelihood of a Federal Reserve rate hike has increased to 87.3%, raising concerns about a bearish reaction in Bitcoin's price.

Bitcoin is caught between long-term buyers and short-term caution, with recent volatility triggered by the U.S. CPI report causing significant liquidations.

The cryptocurrency's attempts to climb towards the key $82,000 resistance are weakening, with indicators like the Coinbase Premium Index and exchange net flows being critical for signs of renewed demand and potential price gains.