Bollcoin, October 23: CoinShares analysis notes that the continued weakening of the U.S. housing market has given the Fed room to hold off on raising rates, but inflation pressure remains a key constraint on monetary policy. The market widely expects the Fed to keep rates unchanged at its October 28 meeting, yet recent hotter-than-expected CPI and PPI data mean the risk of further rate hikes persists. The analysis suggests that if the Fed unexpectedly raises rates in October, the shock could be larger because it would exceed market expectations. Bitcoin has shown relative resilience this week amid volatility in risk assets, supported by recovering spot demand, improved stock market sentiment and short covering. However, the crypto market's path ahead will still be driven mainly by rate expectations and liquidity changes, and the policy buffer from housing market weakness is not yet enough to offset inflation risk.