Crypto Market Cautious as September Fed Rate Cut Hopes Wane

Market volatility continues as the prediction market suggests a softening in confidence surrounding the Federal Reserve’s potential September rate cuts. The personal consumption expenditures (PCE) inflation data is now expected to be the crucial determinant for this decision, impacting crypto markets significantly. Bitcoin has dipped close to $112,000, but analysts are recommending buying dips while market uncertainty remains high. 25 bps rate cut bets have dropped on the prediction market, suggesting increased reluctance towards further cuts in September.