Waller's Comments Spark Bitcoin Rally as Rate Hike Odds Plummet

Federal Reserve Governor Christopher Waller's recent comments have sent shockwaves through the market, as he indicated that he would be inclined to support keeping interest rates unchanged during the September meeting.

This shift in stance has led to a significant Bitcoin price rally, with BTC rising by 5% on Thursday. The surge also saw $730.8 million net flows into spot BTC ETFs, highlighting strong demand for the cryptocurrency.

The odds of a rate hike have been slashed from 57% to closer to 50%, according to the CME FedWatch Tool. This has left market participants uncertain about the outcome of the upcoming meeting and the potential impact on crypto markets.