Bitcoin holds near $81,000 as hot US inflation data revives talk of a Fed rate hike at the October 27-28 meeting — here's what it means for crypto.
September US consumer prices came in hot at 3.7 percent year over year, above expectations, and traders have sharply raised the odds of a rate hike at the Federal Reserve's late-October meeting. Higher rates and a stronger dollar are usually bad news for crypto: Ethereum sits near $2,400, market sentiment is split between fear and neutral, and Bitcoin remains more than 30 percent below its record high near $126,000. With no more inflation data before the decision, analysts say the Fed's call is crypto's next big test.
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