Bitcoin Plunges Below $50K: Banking Giants Predict Interest Rate Cuts

Following a weak August jobs report, financial institutions are predicting at least two interest rate cuts from the US Federal Reserve in 2025. This comes after banking giants like Bank of America reversed their stance on no rate cuts, projecting two 25 basis point (BPS) reductions in September and December. Goldman Sachs is anticipating three 25 BPS cuts throughout September, October, and November. Meanwhile, the crypto market continues to evolve with exciting news including Trump Media’s investment in Crypto.com’s CRO treasury and Justin Sun urging World Liberty Financial to unlock his frozen tokens.