The post October Fed Rate Cut Odds Rise, Bitcoin Surges appeared on BitcoinEthereumNews.com. U.S. private payrolls unexpectedly fell in September, raising market bets that the Federal Reserve will cut rates in October. This has coincided with a rise in Bitcoin price. Economists had expected an increase of 50,000 following a revised gain of 54,000 in August. Market Participants Expect Fed Rate Cuts After Weak Payroll Data The ADP National Employment Report showed a decline of 32,000 jobs, the steepest drop since March 2023. The weak data shifted investor expectations sharply, including a positive effect on Bitcoin. On Polymarket, the probability of the Fed keeping rates unchanged fell to only six percent. Traders now anticipate another cut, as the central bank tries to ease pressure on a slowing labor market. The Fed reduced its benchmark rate in September to a range of 4.00% to 4.25%. Polymarket data shows slim 6% chance Fed keeps rates unchanged in October. The release came at a sensitive time. The U.S. government has entered a shutdown after Congress failed to pass funding. The government shutdown has suspended many official reports, leaving private data like ADP with more weight. Without the Labor Department’s jobs release, investors turned to ADP for signals about hiring conditions. The decline reinforced concerns that employers remain cautious despite strong growth earlier this year. Hence, Citi economists say the Fed will likely deliver 25bp rate cuts in October and December, as signaled in its dot plot. ADP Job Losses Fuel October Rate Cut Expectations and Bitcoin Rally The ADP report showed that a high number of employees from small and medium businesses lost their jobs. A big decline was experienced in industry sectors such as leisure, hospitality and professional services. Only large companies as well as certain healthcare companies employed many workers. A re-examination of the data added to the downward factor. Expectations for October were… The post October Fed Rate Cut Odds Rise, Bitcoin Surges appeared on BitcoinEthereumNews.com. U.S. private payrolls unexpectedly fell in September, raising market bets that the Federal Reserve will cut rates in October. This has coincided with a rise in Bitcoin price. Economists had expected an increase of 50,000 following a revised gain of 54,000 in August. Market Participants Expect Fed Rate Cuts After Weak Payroll Data The ADP National Employment Report showed a decline of 32,000 jobs, the steepest drop since March 2023. The weak data shifted investor expectations sharply, including a positive effect on Bitcoin. On Polymarket, the probability of the Fed keeping rates unchanged fell to only six percent. Traders now anticipate another cut, as the central bank tries to ease pressure on a slowing labor market. The Fed reduced its benchmark rate in September to a range of 4.00% to 4.25%. Polymarket data shows slim 6% chance Fed keeps rates unchanged in October. The release came at a sensitive time. The U.S. government has entered a shutdown after Congress failed to pass funding. The government shutdown has suspended many official reports, leaving private data like ADP with more weight. Without the Labor Department’s jobs release, investors turned to ADP for signals about hiring conditions. The decline reinforced concerns that employers remain cautious despite strong growth earlier this year. Hence, Citi economists say the Fed will likely deliver 25bp rate cuts in October and December, as signaled in its dot plot. ADP Job Losses Fuel October Rate Cut Expectations and Bitcoin Rally The ADP report showed that a high number of employees from small and medium businesses lost their jobs. A big decline was experienced in industry sectors such as leisure, hospitality and professional services. Only large companies as well as certain healthcare companies employed many workers. A re-examination of the data added to the downward factor. Expectations for October were…