Fed Rate Cut Odds Rise Amidst Economic Data, Bitcoin Reaches New Highs

The likelihood of the Federal Reserve lowering interest rates in December has increased as new economic data shifts market expectations. A recent jobs report showed a slower than expected increase in non-farm payroll jobs, which was followed by 41.6% probability for a 25 basis point cut according to CME FedWatch Tool. This development contributed to the growing anticipation of monetary policy easing and has impacted cryptocurrency markets, with Bitcoin hitting a new all-time high of $68,500 and Ethereum surpassing $3,000. ]