Bitcoin Traders Turn Optimistic as Fed December Rate Cut Odds Rise to 69%

Bitcoin traders grew more optimistic Friday after the probability of a US Federal Reserve rate cut in December surged to 69.40% from 39.10% within 24 hours, according to the CME FedWatch Tool. Bitcoin traded around $85,071, down over 10% in the past week. The shift followed dovish remarks from New York Fed President John Williams suggesting the central bank could reduce rates "in the near term" without compromising inflation control.