Markets Price Four Fed Rate Hikes by June 2027 as Bitcoin Slides

Interest-rate futures are pricing four additional Federal Reserve rate increases by June 2027, implying a 4.75%-5% federal funds target range as Bitcoin (BTC) fell below $83,000.

The market-implied path would add one percentage point to the current 3.75%-4% range through four quarter-point hikes. The Federal Open Market Committee raised the target range by 25 basis points on Sept. 16, with the decision approved 12-0.

Treasury yields also moved higher. The 10-year yield reached 5.11% and the 20-year yield 5.45% on Sept. 23, while Bitcoin declined from a recent local high of $87,500.

The rate path reflects market pricing, not a Federal Reserve commitment or forecast. The central bank said after its September meeting that economic activity was expanding at a solid pace while inflation remained elevated.