Stablecoin Inflows Rise Before Fed Rate Decision: Crypto Daybook Americas
By Francisco Rodrigues (All times ET unless indicated otherwise)
Bitcoin is hovering around $113,000 after dropping 1.4% in 24 hours, while the broader crypto market, measured via the CoinDesk 20 (CD20) index, fell 2%.
The declines come amid a rotation into stablecoins ahead of the Federal Reserve’s policy decision later today. A 25 basis point interest-rate cut is a near certainty. The CME FedWatch tool shows a 99.9% chance of it happening, while traders on Polymarket put the odds at 98.1%.
Traders are also on the lookout for signs the Fed is set to slow its balance sheet runoff, which would further ease financial conditions and be a potential boon for risk assets.
Trading activity has thinned. Liquidity on centralized…
