Bitcoin's price remains stagnant between $90,000 and $98,000, with market participants suspecting a false breakout as open interest fails to rise. The probability of a rate hike is at 98%, according to Polymarket data, with expectations that a hike could lead to a market downturn, while no hike might boost prices. Traders are also closely watching the upcoming CPI data and the Bank of Japan's rate decision, which could influence market movements. Ethereum shows signs of weakness, with plans to short the cryptocurrency on potential pullbacks. Meanwhile, the market anticipates a bearish trend, expecting an initial drop followed by a corrective rebound. In other developments, Sora's market cap surged from $5 million to $100 million, and DOYR's market cap reached $50 million. A new stablecoin, $U, has been introduced with a market cap of $5.5 million and no transaction tax.
Bitcoin Stagnates Amid Rate Hike Speculation; Ethereum Weakens
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