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Softer U.S. PCE and payrolls data cut October rate-hike odds, but elevated Treasury yields keep pressure on bitcoin, says Bitfire Research.
A weak jobs report pulled October off the table, but two inflation readings and an oil price stand between borrowers and another rate hike before the year ends.
August core PCE gave markets a reason to back away from an October Fed hike, with rate-hike odds falling sharply and Treasury yields easing after the report.