UPDATE: Bitcoin stabilizes near $84,000 as Fed rate hike expectations drop
CIE News ·
Bitcoin traded between $83,300 and $84,050 on October 12, 2026, as traders lowered odds of an October Fed rate hike despite recent spot ETF outflows.
Bitcoin (BTC) stabilized between $83,300 and $84,050 on October 12, 2026, up 0.6% on the day as traders reduced bets on a Federal Reserve interest rate increase later in the month. As previously reported, BTC had held above $84,000 despite absorbing $681 million in weekly outflows from U.S. spot exchange-traded funds, which SoSoValue tracked as the largest weekly withdrawal since June.
Market expectations for a 25-basis-point hike at the October 28 Federal Open Market Committee meeting dropped to between 14% and 18.3%, with prediction platform Polymarket showing 17% odds and CME FedWatch pricing a hike probability below 20%. The odds of a rate pause stood between 81.7% and 86%.
Macroeconomic pressures remain active as the 10-year Treasury yield sits at 5.24% after touching a 52-week peak of 5.37%, Decrypt reported. Capital.com analyst Daniela Hathorn noted that high bond yields and inflation concerns continue to weigh on market sentiment ahead of the release of September Consumer Price Index data scheduled for October 14.