Update
Fed Rate Decision and Bitcoin
Bitcoin faces a December 9 Federal Reserve rate decision before the November 10 US inflation report. The CME FedWatch snapshot put a quarter-point hike at 86.4% odds, with a 13.6% chance of a half-point rise. Headline CPI rose 0.4% versus a 0.3% forecast, and core rose 0.3% versus 0.2%, meeting Governor Christopher Waller's condition for a 50 bps move. The market is pricing more tightening, with 25 bps the dominant outcome, and 50 bps odds rose alongside 25 bps odds.