Boston Fed’s Potential Rate Cut Fuels Crypto Market Volatility

The potential for a rate cut by the Boston Federal Reserve has sent ripples through the cryptocurrency markets. Raphael Bostic, President of the Boston Fed, hinted at the possibility during his address to the Metro Atlanta Chamber on August 21st, noting that adjustments may be needed due to economic uncertainty. This forecast has led to volatility in Bitcoin and Ethereum, with prices dropping below $117,000 as market participants adjust to shifting rate expectations.