The US Federal Reserve left interest rates unchanged at 3.50%-3.75% on July 29, broadly in line with market expectations. However, three policymakers dissented in favor of an immediate rate increase to 3.75%-4.00%, signaling a notably more hawkish shift within the committee. Fed Chair Kevin Warsh declined to rule out another hike in September, maintaining pressure on risk assets including cryptocurrencies. Bitcoin traded around $63,850 following the decision, with investors now shifting focus to the Jackson Hole Symposium in August for further guidance. If upcoming inflation and employment data support the Fed’s hawkish stance, expectations for a September rate increase could strengthen, potentially limiting liquidity conditions that have historically supported Bitcoin and the broader crypto market.
Source: Read the original article
