On October 11th, the US CPI in September increased beyond expectations, which suggests a possible halt in the decline of inflation. Also, unemployment benefits in the US saw the most significant increase in over a year. Consequently, traders bet that the probability of a 25-basis point interest rate cut in November rose to 83.3% while the probability of suspending rate cuts only reached 16.7%. Due to this, the US market began to decline, and all cryptocurrencies, including Bitcoin, took a hit.
On a different note, the US dollar dipped slightly, as more investors expected a 25 basis point interest rate cut. Tensions in the Middle East and Hurricane Milton impacted oil prices positively, making them rise by more than 3.5%. Gold prices saw some support due to expectations of a rate cut, while spot silver recovered from a three-day losing streak due to the same reason. The asset management platform, eeee.com, has introduced a USDT stablecoin with an annualized return of 5.5% to help investors manage fluctuations in the market.
Source: source