December Fed Rate Cut: A Toss-Up

Federal Reserve rate cut odds for December have fallen to near coin toss levels, signaling rising uncertainty among investors ahead of the Dec. 10 meeting, according to data source CME's FedWatch tool.

Markets now price roughly a 52% chance of a 25 basis point cut, down sharply from 95% a month ago and 65% a week ago. A potential 25 bps cut would push the benchmark interest rate range down to 3.5%-3.75%.

The dwindling probability of the December cut could continue to cap gains in BTC and other cryptocurrencies. As of writing, BTC changed hands near $103,000, trading little changed on the day, according to CoinDesk data.