Federal Reserve Keeps Rates at 4.25%-4.5%, September Cut Odds Drop – Crypto Bull Run Over?
Main Idea
The Federal Reserve maintained interest rates at 4.25%-4.5%, reducing expectations for a September rate cut, which caused market volatility but saw cryptocurrencies recover quickly.
Key Points
1. The Federal Reserve kept interest rates unchanged at 4.25%-4.5%, with two governors dissenting in favor of a rate cut.
2. Market expectations for a September rate cut declined, with probabilities dropping from 40% to 33% for two cuts and rising from 24% to 27% for a single cut.
3. Bitcoin briefly dipped below $116,000 before rebounding above $118,000, while Ethereum and other major cryptocurrencies also experienced volatility.
4. Fed Chair Jerome Powell's hawkish stance and refusal to commit to future rate cuts sparked political backlash and market uncertainty.
5. Despite initial selloffs, cryptocurrency markets recovered quickly, with Bitcoin maintaining key support levels and bullish sentiment remaining strong.
Description
The Federal Reserve maintained interest rates at 4.25%-4.5% on July 30, marking the fifth consecutive meeting without change, while two governors dissented in favor of cuts for the first time since 1993. The decision triggered a market selloff with the Dow falling over 300 points and cryptocurrency markets experiencing widespread declines before recovering key support levels. MAJOR BREAKING: Jerome Powell just announced that the Fed Reserve will maintain its benchmark interest rate at 4.25% to 4...
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