Bitcoin remains stable around $58,480 with slight movements in other cryptocurrencies like XRP, SUI, and FTM.
The market anticipates the Federal Reserve's potential interest rate cut on September 18, which is expected to influence risk assets positively, with a 67% probability of a 50 bps rate cut.
Former President Donald Trump's associated project, World Liberty Financial, announced the launch of a governance token exclusively for U.S. accredited investors.

Bitcoin (BTC) and broader crypto markets have changed little in the past 24 hours as traders await a Federal Open Market Committee (FOMC) meeting on Wednesday, where officials are expected to announce their first rate cuts in four years.

Bitcoin is trading below $58,500 at $58,480 and is relatively flat. The CoinDesk 20 (CD20), a measure of the largest digital assets, is up slightly, trading above 1,800.

Daily inflows into the bitcoin exchange-traded funds (ETFs) came in at $12.9 million, with most going to BlackRock’s IBIT.

The Fed is widely expected to announce an interest rate cut on Sept. 18, kicking off the so-called easing cycle, which has historically supported risk assets, including bitcoin.

As of Asian morning hours Tuesday, the 30-Day Fed Funds futures prices show traders see a 67% probability of big 50 bps rate cut to the 4.7%-5% range. This is a bump from Monday’s 50% implied probability and a large jump from the 25% probability from a month ago.

On Polymarket, traders are giving a 57% chance of a 50 bps decrease and a 41% chance of a 25 bps decrease.

Elsewhere, the market remains fairly flat. Notable movers include XRP up 3.5%, SUI up 2.5%, and Fantom’s FTM, up 10.5% on continued positive market sentiment from its upcoming re-brand to Sonic.

BITCOIN HOLDS ABOVE $58K AS ODDS OF BIG FED RATE CUTS JUMP TO 67%