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A December rate cut from the U.S. central bank might not be as sure of a thing as previously thought.

Bitcoin TKTK

Powell also said a CBDC would need Congress' approval before the Federal Reserve will act.

Market participants were uncertain about the size of rate cut prior to the Fed meeting, laying the groundwork for volatility on the markets.

Market participants were uncertain about the size of rate cut prior to the Fed meeting, laying the groundwork for volatility on the markets.

Fed Chair Jerome Powell's speech later today could shake up markets as he will face questions about the central bank's outlook on monetary policy and inflation after Donald Trump's decisive win of the U.S. presidential election.

Bitcoin investors have mostly been focused on spot ETFs and the upcoming halving, but central bank monetary policy is also likely to play a sizable role in the 2024 price outlook.

A rate cut could add to inflation and strengthen the Japanese yen, crashing markets, Hayes explained.

PLUS: Sony’s Soneium blockchain is growing, with Circle announcing that USDC will be listed on the chain.