Bitcoin falls as Fed’s Waller backs December rate hike

Waller's explicit commitment to a December hike matters less as new information than as confirmation that policy expectations are hardening into near-certainty, which compresses the space for crypto to rally on ambiguity. The read-through lands hardest on leveraged and rate-sensitive positioning, where bitcoin's move is tracking macro risk appetite rather than any crypto-native catalyst. The open question is whether rate-hike odds stay pinned near that level or drift as the meeting approaches; either way, bitcoin's near-term direction looks borrowed from the Fed, not from its own narrative.