Last week, Federal Reverse Chairman Jerome Powell set the crypto community on fire after speaking at the annual Jackson Hold economic symposium . During his speech, Powell had hinted toward possible rate cuts that could happen in the month of September, and since rate cuts have been historically bullish for risk assets, this quickly triggered a rapid bullish response from the community. However, expectations for a rate cut seem to have dwindled in the last few weeks, according to the CME Group’s FedWatch tool.

Probability Of Rate Cuts Drops From 92% To 75%

Earlier in the month of August, Bitcoinist had reported that the CME Group’s FedWatch tool was showing a high 92% probability of rate cuts happening in the month of September. This had come after there were no rate cuts in July, tu

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