Goldman Sachs now expects a Fed rate hike next week after hotter inflation data, while Bitcoin struggles below $80K.

Goldman Sachs reversed its previous forecast and now anticipates a 25-basis-point Federal Reserve rate hike on September 16, following hotter-than-expected August core inflation data. This shift aligns with rising market odds, which surged to over 86% for a hike next week. Meanwhile, Bitcoin's price briefly approached $80,000 but failed to sustain gains, reflecting market caution ahead of the Fed decision. The key focus is on the Fed's future rate path, as a single hike is unlikely to curb inflation, and further increases could impact risk assets like Bitcoin.