Bitcoin Surges Past $81,000 as Fed's Waller Suggests Interest Rate Pause
The recent statement from the Federal Reserve has had a significant impact on the market, particularly for Bitcoin. According to Fed Board member Christopher Waller, he may support keeping interest rates unchanged in September unless inflation data increases unexpectedly. Waller stated that 'Let's give disinflation a chance. We can wait one meeting,' suggesting that the current rate levels are sufficient. This dovish message has shifted market expectations regarding the Fed's September meeting, with the probability of a rate hike falling to 48.4%.
The decrease in interest rate hike expectations has led to increased demand for risky assets, resulting in Bitcoin's price surpassing $81,000. The cryptocurrency's market capitalization has reached nearly $1.62 trillion, while its 24-hour trading volume has approached $33 billion. Other cryptocurrencies such as Ethereum, BNB, and Solana have also seen significant gains, with XRP standing out among them.
Waller emphasized that the interest rate decision will largely depend on the upcoming inflation data to be released on September 11. If inflation accelerates again in August, Waller could support a rate hike, but for now, it seems unlikely. The market is closely watching the situation and adjusting its expectations accordingly.