This shift holds significant implications for cryptocurrency markets, notably affecting Bitcoin and DeFi sectors, which are sensitive to macroeconomic changes.
The probability of a Federal Reserve interest rate cut in December has fallen below 50%. This is a significant change from prior expectations, which were approaching near-100%.
Key players include the Federal Reserve led by Jerome Powell. The Fed’s decisions have a profound impact on macroeconomic sentiment and risk-on assets like cryptocurrencies. James Butterfill, Head of Research, CoinShares, stated, “We expect 25 basis points in October and a further 50 basis points in December.”
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