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Stronger-than-expected PMI boosts rate-hike bets and sends Treasury yields surging; BTC retreats and stabilizes around $84K

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The preliminary U.S. September PMI came in at 58.4, marking the fastest expansion since 2021, while the Input Prices Index reached its highest level since October 2022. This sharply increased market expectations for further Fed tightening, with CME data showing the probability of a 25-bp rate hike in October rising to 69.7%. Higher rates d

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