Bitcoin Breaks $57K Barrier as Fed Rate Cut Odds Surge to 85%

  • BTC shows resilience post-CPI, recovering to $57K with bullish sentiment.

  • Declining Bitcoin volatility signals market calm before FOMC meeting.

  • Election Ticket trade idea offers potential 180% payout amid market momentum.

The probability of a 25 basis point Federal Reserve rate cut jumped to 85% following the latest U.S. Consumer Price Index (CPI) data, which showed a slight uptick in core CPI to 0.3%.

This news propelled Bitcoin (BTC) back above the $57,000 mark, signaling strong demand and growing bullish sentiment. Increased interest in Bitcoin call options with October to December expiries further reflects traders’ optimism for the coming months.

Bitcoin Volatility Dips Ahead of FOMC

Bitcoin’s liquidity saw a 12-point drop this week, triggered by the CPI release and the U.S. presidential debate. With no major monetary events expected before next week’s Federal Open Market Committee (FOMC) meeting, a further decline in price volatility is anticipated.

Read also: Bitcoin’s July Blues: Can CPI Data Spark a Rebound?

Despite this lull, market demand is building in anticipation of the …

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