The Federal Reserve is expected to maintain interest rates between 3.75% and 4.00% during its upcoming meeting. According to the CME FedWatch Tool, the probability of a pause is 90.6%. Economists anticipate a rate hike in December, with 100 out of 100 surveyed by Reuters expecting such a move.
Market attention is also focused on the PCE price index data due on Thursday. Economists forecast a 3.7% year-over-year increase, while the economy shows growth of 3.2% for the third quarter. Meanwhile, the 10-year Treasury yield recently closed near 5%, impacting broader financial conditions.
Global central banks are also adjusting policies. The European Central Bank is expected to hold rates at 2.50%, while Japan maintains its 1.25% rate, the highest since 1995. Shifts in these policies may influence global asset markets, including cryptocurrencies.
A significant event for Bitcoin occurs this Friday with the expiry of options worth $10.97 billion on Deribit. This represents 35% of all open contracts on the platform. Call options currently outnumber put options by nearly two to one, with the largest concentration of bets targeting a price of $95,000.
