Today’s market buzz

On October 28, the Federal Reserve voted 10 to 2 to keep the interest rate unchanged at 3.75%-4.00%, but PCE data showed core inflation at 3.1% and overall inflation at 3.6%, still in line with expectations. Market pricing for a rate hike in December fell from 85% to the 70%-80% range. Some traders believe inflation remains sticky at a high level and the Fed leans toward raising rates. Under deleveraging pressure, BTC fell below $80,000 and ETH lost the $2250 level; others see the current decline as a clearance and expect a rebound around November 2. The October non-farm payroll data to be released on November 6 is viewed as the next key point that could rewrite the probability of a rate hike.