#RateHikesBackOnTable — Markets Reprice a Rate Hike as Inflation Runs Hot April CPI printed at 3.8% and PPI at 6% — both hotter than modeled. That flipped the script fast: odds of a Fed rate hike by December are now at 54%, while June cut expectations collapsed from near-certainty to around 15%. The higher-for-longer era may not be winding down — it might be getting a second wind. Bitcoin felt it first. BTC dropped to $78,704 on May 13 as leveraged longs were wiped out ($304M in liquidations), and spot BTC ETFs saw $648M in outflows on a single day. Rate hike risk = risk-off for crypto. Current levels: BTC $77,141 | ETH $2,128 | SOL $86.28 Is the Fed hiking cycle really back, or is the market overreacting to one hot CPI print? Just sharing my thoughts. Not financial advice. DYOR. #RateHikesBackOnTable #FedPolicy #OKXOrbit