Bitcoin's breakout cools off 🧊

Bitcoin has pulled back from Monday's local high over $87,000, as CME FedWatch data points to a looming Fed rate hike.

Author

Stephen Graves
September 24, 2026

đź“ť What you need to know

Bitcoin has pulled back from its recent rally over $87,000, as traders price in expectations of further Fed rate hikes. CME’s FedWatch tool now puts the chance of a 25-basis-point hike in October at almost 65%, on a par with users of Decrypt’s sister prediction market Myriad.

Higher rates tend to mean higher borrowing costs, coupled with a stronger dollar and improved returns on cash and government bonds—making volatile assets like Bitcoin less attractive. All eyes now turn to the Fed’s next meeting on October 28, following September’s rate hike—which, counterintuitively, saw Bitcoin tick up in its wake.

Bitcoin Breakout Cools as Fed Rate-Hike Bets Climb

Bitcoin has slipped back below $85,000 after tagging an eight-month high near $87,400 last week, with rising odds of an October Fed hike.

Bitcoin (BTC)September 24, 2026
$84,569
â–Ľ 0.1% (24h)
View live price

đź“° In the News

Elliptic Wants Every Cop to Read a Crypto Wallet in Seconds—With AI

Crypto analytics firm Elliptic has rolled out an AI product designed to let ordinary police officers make sense of the crypto they find.

ÂŁ10K Reward Offered After UK Couple Attacked in Crypto Home Invasion

Police believe the robbery was planned and targeted, with instructions relayed to the three attackers by a fourth man on a video call.

Decrypt Media and FOMO Hour’s Thought Leader Farokh Sarmad to Take Main Stage at NEXTPredict NY Conference

Premier Partnership will livestream the Main Stage through Decrypt Media and bring Rug Radio and FOMO HOUR programming onsite.

Brought to you by NEXTPredict

đź“Š Myriad Insight of the Day

Myriad prediction marketSeptember 24, 2026
Who will win Brazil's 2026 presidential election?
First round October 4, with a runoff October 25 if needed
   
Flávio Bolsonaro55%
Luiz Inácio Lula da Silva44%
Renan Santos1%
Why it matters
Myriad's new market gives Flávio Bolsonaro, son of the former president, an edge the polls don't show: 55% to Lula's 44%. Monday's surveys, reported by Al Jazeera, have the pair statistically tied in a runoff, with Quaest showing Bolsonaro up 42% to 41% and BTG Pactual/Nexus putting Lula ahead 46% to 45%. The trend favors the senator, though: Lula led Quaest by five points in August. Voting starts October 4.
Source: Al Jazeera
Trade on Myriad

Q-Day Could Arrive Before Quantum Computers Are Commercially Useful, EU Warns

The threat could arrive before quantum computers are commercially useful, and member states have until the end of 2026 to plan for it.

Brooklyn Man Who Bragged About $16M Coinbase Scam Gets Up to 12 Years

He posed as support staff, emptied about 100 accounts, then lost $6 million of the proceeds gambling, according to his own messages.

Anthropic Says Claude Found Something Big in DNA. It Just Doesn't Know What

Anthropic says Claude autonomously found a new CRISPR-like enzyme system. Even Dario Amodei admits nobody knows what it actually does.

🥇 Be First to Market With Myriad

Join the Myriad Markets Telegram to see the latest prediction markets the second they drop!

With Myriad, the on-chain prediction market launched by Decrypt’s parent company DASTAN, you can break the news and stake the news.

đź“š Watch & Learn

đź“ą WATCH: CFTC Says GO TIME, Variational's Big Airdrop, Tunaround Thursday

🎓 LEARN: What Is Robinhood Chain? The Ethereum Layer-2 Network for Tokenized Stocks and Meme Coins

Robinhood Chain is an Ethereum layer-2 network built with Arbitrum technology for tokenized assets, crypto apps, and financial products.

Interested in partnering with Decrypt? Find out more here.