The Federal Reserve's September meeting minutes have influenced expectations regarding future interest rate cuts. This report indicates a reduced likelihood of a 50 basis points (bps) rate cut in November, leading to a bearish sentiment for the Bitcoin market.
Prior to the minutes’ release, there was anticipation of a rate cut, driven by Fed Chair Jerome Powell's dovish remarks. Nevertheless, the minutes countered earlier optimism, shaping a more cautious market outlook.
The rate cut speculation had fueled positive sentiment for Bitcoin, as lower interest rates often lead to greater investment in risk assets like cryptocurrencies. Thus, the Fed's current stance might not favor an immediate Bitcoin price surge.
