The downturn followed a decline in the US stock market after oil prices surged after Israel attacked Iran’s largest gas processing facility and the US producer price index rose above expectations. Data from the CME FedWatch Tool showed the probability of an interest rate cut by September plunged to 42% on Wednesday, down from 89% just one month ago, based on implied odds in futures markets. More importantly, the indicator stood below the neutral 6% to 12% range even as Bitcoin price surged above $76,000, reinforcing the thesis of spot demand sustaining momentum rather than speculation using derivatives markets.
Author: Cointelegraph by Marcel Pechman
Published at: 2026-03-18 23:23:32
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