XRPUSD 281124 Daily Chart
BTC Revisits $97k on Fed Rate Cut Expectations
On Wednesday, US economic indicators fueled bets on a December Fed rate cut. The Core PCE Price Index rose 0.3% month-on-month in October, mirroring September’s increase. However, year-on-year, the Core PCE Price Index increased to 2.8% in October, up from 2.7% in September.
The October figures suggested a sticky inflation environment. Nevertheless, the chances of a Fed rate cut increased on Wednesday, boosting demand for US BTC-spot ETFs and BTC. According to the CME FedWatch Tool, the probability of a Fed rate cut rose from 59.4% on November 26 to 64.8% on November 27.
US BTC-Spot ETF Market Ends Two-Day Outflow Streak
The US BTC-spot ETF market reported net outflows of $122.8 million on Tuesday, November 26. However, rising expectations for a December rate cut supported a pickup in demand for BTC-spot ETFs….
