In accordance with TheMarketPeriodical, Bitcoin price fell to $86,000 as the likelihood of a December rate cut declined sharply due to a delay in U.S. labor data. The absence of the October jobs report and the delayed release of November’s data has left Federal Reserve Chair Jerome Powell entering the FOMC meeting without key economic indicators, increasing market uncertainty. According to CME FedWatch, the probability of a rate cut has dropped to 350-375 bps, with a 68.2% chance of rates remaining at 375-400 bps. Bitcoin has now dropped 32% from its October peak of $126,273, with the decline placing it in line with historical mid-cycle corrections. The price has also fallen below the 0.618 Fibonacci retracement level and the 200-day moving average, signaling further technical weakness.
Bitcoin Price Drops Below $86K Amid Fed Data Delay and Rate Cut Uncertainty
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