Bitcoin · Federal Reserve (FED) · U.S. Treasury · CryptoSlate
The December call also raises the stakes of the September meeting
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Key facts
- For scale, Bitcoin traded around $79,375 according to CryptoSlate data around 14:02 UTC on Sept. 7
- The next scheduled test is August CPI on Sept. 11, ahead of the Sept. 15–16 FOMC meeting
- The Bureau of Labor Statistics reported that employers added 162,000 jobs in August and unemployment held at 4.1%
- Bitcoin is -1.08% over the past 24 hours and currently sits at rank # 1 by market cap
Summary
01 UBS now forecasts quarter-point Fed hikes in September and December after previously expecting none. 02 Higher rate expectations could support yields and dollar assets, raising Bitcoin’s opportunity cost and pressuring risk appetite. 03 August CPI on Sept. 11 and the Fed’s September decision will test whether inflation keeps the December hike in play. UBS's new forecast of two Federal Reserve rate hikes this year extends Bitcoin's potential macro headwind through December. Sept. 7 that UBS Global Wealth Management now expects increases of 25 basis points, or a quarter of a percentage point, in both September and December.