Bitcoin and ethereum opened Thursday at $84,370.41 and $2,684.09, down 2.1% and 2.5% from Wednesday, then fell to $83,462.29 and $2,646.52 by 7:33 a.m. ET. CME FedWatch put the chance of an October Fed hike at 75.3%.
CME FedWatch also showed a 58.6% chance of another rate hike in December. The article says widespread inflation concerns have increased hike expectations and weighed on the recent crypto rally. Despite Thursday’s declines, opening prices were up 10.8% for bitcoin and 11.1% for ethereum from a week earlier, but down 24.7% and 35.6%, respectively, from a year earlier.
