On Thursday night, global risk assets remained generally stable as traders awaited the release of a key inflation metric on Friday—the Core Personal Consumption Expenditures (PCE) index. This data will directly influence the Federal Reserve’s interest rate decision on December 10. Currently, the market is pricing in an 87% probability of a 25 basis point rate cut.
In U.S. equity futures, Dow Jones and S&P 500 futures were nearly flat, while Nasdaq futures rose 0.1%. Core PCE for September is expected to grow 2.9% year-over-year, marking the 55th consecutive month above the Fed’s 2% target, further increasing uncertainty around policy direction.
The crypto market also displayed low volatility. Bitcoin’s implied volatility is around 36%, corresponding to just a 1.88% 24-hour price range. BTC has been fluctuating between $92,000 and $94,000 for two consecutive days. If inflation weakens, the 10-year U.S. Treasury yield could fall below 4%, providing an opportunity for Bitcoin to break out of its range. Nexo analysts stated that if the PCE data remains stable, it will further boost the momentum for crypto asset rebounds.
Among major cryptocurrencies, Ethereum is more volatile, with a daily implied volatility index at 57.23%, equating to an expected 3% price swing. Solana’s is at 3.86%, and XRP’s reaches 4.3%, the highest among major crypto assets. ING analysts cautioned that if U.S. Treasury yields dip temporarily, the impact could be similar across various crypto assets.
U.S. stocks were mixed on Thursday. The S&P 500 and Nasdaq edged higher, with tech stocks continuing to lead. Meta rose 3.4%, and Nvidia gained 2.1%, providing key support to the indices.
On Friday, the delayed September personal spending and income data will be released, along with the University of Michigan’s December consumer sentiment index. The latest initial jobless claims fell to the lowest level since September 2022, indicating a labor market cooling moderately rather than weakening sharply.
Meanwhile, the Challenger report showed that November layoffs reached 71,000, the worst for the same period since 2022. Nevertheless, rate cut expectations continue to dominate market sentiment; the CME FedWatch tool shows a December rate cut is “almost a certainty,” keeping overall market volatility at low levels.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Major CEX Launches Crypto-Backed Lending in UK, Supporting BTC, ETH, and cbETH for USDC Borrowing
A centralized exchange launched crypto-backed lending services in the UK, allowing instant USDC loans using BTC, ETH, and cbETH as collateral, powered by Morpho. Total loans issued surpassed $2.17 billion since the service's US debut in January 2025.
GateNews26m ago
Crypto Jack Warns Bitcoin May Drop to $48K Amid Geopolitical Tensions
Crypto trader Crypto Jack warns investors to sell Bitcoin, predicting a decline to $48,000 amidst US-Iran tensions and negative financial signals, before a potential recovery in May based on seasonal trends.
CryptoFrontier30m ago
French-listed Capital B Increases Bitcoin Holdings to 2,937 BTC
Gate News message, April 20 — French-listed company Capital B has increased its Bitcoin holdings by 12 BTC, bringing its total holdings to 2,937 BTC, according to an official announcement.
GateNews42m ago
Bitcoin’s fourth halving rally is slowing down, analysts say: BTC may have entered a “new normal”
Investment firm Galaxy analyst Alex Thorn noted that Bitcoin’s advance during this halving cycle has been lower than historical records, with volatility declining, and the market may be entering a new normal. Compared with the past three halvings, the fourth time’s price change is no longer significant. While the passage of U.S. spot ETFs has catalyzed the rally, the market’s ongoing conditions still need to be watched closely.
ChainNewsAbmedia49m ago
BTC rose 0.56% in 15 minutes: trading volume surges and buy-side dominance drives a spot rebound
From 07:15 to 07:30 on April 20, 2026 (UTC), BTC achieved a +0.56% short-term return in mainstream markets. The price range touched 74718.5 - 75568.1 USDT, and the 15-minute intraday swing reached 1.14%. In this phase, market attention warmed up, trading activity rose noticeably, and overall volatility increased.
The main driver behind this deviation is that for mainstream trading pairs such as BTC/USDT, the 15-minute trading volume increased month-over-month to +15%, forming a buy-side dominant pattern that pushed spot prices upward to break higher. Inflows directly drove the short-term upside. On-chain data shows that large BTC transfers were dispatched to new wallets in a structured, staged manner, with no concentrated sell pressure flowing to trading platforms. This releases a rebalancing signal rather than a sell signal, which helps ease short-term sell pressure. The chain
GateNews1h ago
Bitcoin Dominance Approaches 59.9% Resistance, Altseason Signals Emerge
Bitcoin dominance has reached 59.9%, nearing a key resistance level. If rejected, analysts predict a capital shift to altcoins, potentially leading to an "altseason," as past trends show this often initiates rallies in smaller assets.
GateNews1h ago
