Fed Governor Christopher Waller continues to favor an interest-rate increase in December, even if inflation shows signs of easing. Meanwhile, lower crude prices are offering limited support to markets, while Anthropic has withdrawn preliminary IPO pricing information previously shared with investment bankers.
Bitcoin extended its decline on Tuesday, falling 1.4% since midnight UTC to trade near $74,200. The weakness came as traders increased their expectations of another Federal Reserve rate increase ahead of the latest U.S. inflation figures. The CoinDesk 20 Index (CD20), which tracks the performance of major cryptocurrencies, declined 1.2% since midnight and remained broadly flat over the past 24 hours.
Waller’s comments strengthened the outlook for tighter monetary policy. He indicated that the Federal Reserve should consider raising interest rates next month even if inflation had cooled in October. According to the governor, a stronger-than-anticipated CPI reading could justify a more aggressive 50-basis-point increase.
Traders are currently leaning toward a 25-basis-point increase at the December 9 policy meeting. Data from the CME FedWatch Tool indicates that such a move would bring the federal funds target range to 4.00%-4.25%.
Before the release, market forecasts pointed to a 0.3% monthly increase in October’s headline Consumer Price Index. Core CPI, which excludes food and energy costs, was expected to rise 0.2%.
However, the Bureau of Labor Statistics will not provide annual inflation comparisons because the October 2025 government shutdown disrupted data collection, leaving no equivalent figures for comparison. September’s annual headline and core inflation rates were 3.7% and 2.6%, respectively.
Crude oil prices provided some relief, declining around 2% over the previous 24 hours. West Texas Intermediate traded near $84 per barrel, reaching its lowest level since late August, while Brent crude remained close to $90. The decline followed President Donald Trump’s signal that additional military strikes against Iran would be put on hold.
Other financial assets also moved lower. Gold dropped more than 1%, slipping below $4,100 an ounce, while Nasdaq 100 futures reversed some of Monday’s gains. The U.S. Dollar Index, meanwhile, remained relatively strong below the 102 mark.
Elsewhere, Anthropic, the developer of the Claude artificial intelligence platform, withdrew preliminary IPO pricing details that had been circulated among investment bankers, Reuters reported.
The information reportedly described a potential offering of approximately 867 million shares at prices ranging from $70 to $80. Based on those figures, the company could have raised as much as $69.3 billion.
Anthropic said the previously distributed pricing information was inaccurate and confirmed that a revised filing would be issued. However, it did not identify the specific errors, leaving the proposed IPO terms and fundraising target unclear.
