The market experienced a sharp drop following the FOMC meeting but has since retraced. As of now, $BTC is trading at $117,840 and $ETH at $3,808, with Bitcoin dominance at 61.62%.
Following Powell’s remarks after the meeting—where rates were held steady—market expectations for a September rate cut dropped sharply, with probabilities falling from around 65% to below 50%. Powell emphasized that no decision has been made and that the Fed will assess upcoming inflation, labor market, and tariff data before considering any policy changes.
A few other headlines include: the Trump administration released a report from its crypto working group, though details on a Bitcoin strategic reserve were notably absent; Robinhood’s Q2 crypto volume jumped 32%; and JPM and Coinbase inked a deal to link users' bank and crypto accounts.
Over the last 24 hours, the top three gainers were $CFX, $ZBCN, and $REKT, while the top three losers were $KTA, $SPX, and $PENGU.
