Bitcoin price eyes $74K as Fed rate-hike bets hit 96% after Waller speech

Bitcoin (BTC) fell toward $74,000, and US stock futures dropped on Tuesday as a senior Federal Reserve official voiced support for hiking interest rates.

Bitcoin traded 1.3% lower on Tuesday, reaching $74,080 as Nasdaq futures fell 0.4% ahead of the Wall Street open.

October US CPI data, due for release at 8.30am on Tuesday, is expected to show a monthly increase of 0.3%, less than September’s 0.6% gain.

Federal Reserve governor Christopher Waller said that he would “support” a 0.25% interest-rate hike at the Dec. 9 FOMC meeting regardless of Tuesday’s CPI reading.

Waller would “still support” December rate hike after lower CPI

Data from TradingView showed BTC/USD reaching $74,080 on Bitstamp, down 1.3% on the day.