Deniz 
As traders wait for a Federal Open Market Committee (FOMC) meeting on Wednesday, when authorities are expected to declare their first rate cuts in four years, Bitcoin (BTC) and more general crypto markets have altered hardly in the past 24 hours.
Bitcoin is somewhat flat and trading at $58,480 less than $58,500. With the majority going to BlackRock’s IBIT, daily inflows into the bitcoin exchange-traded funds (ETFs) arrived in at $12.9 million. On Sept. 18, the Fed is expected to declare an interest rate drop, therefore starting the so-called easing cycle that has historically supported risk assets, including bitcoin.
The 30-Day Fed Funds futures prices as of Asian morning hours Tuesday show traders a 67% chance of a significant 50 bps rate drop falling within the 4.7%-5% area. This deviates greatly from the 25% probability from a month ago and from Monday’s 50% suggested probability.
Traders on Polymarket have a 57% probability of a 50+ bps drop and a 41% probability of a 25 bps drop. Elsewhere, the market stays rather flat. Notable movers include XRP up 3.5%, SUI up 2.5%, and Fantom’s FTM up 10.5% on ongoing good market sentiment from its forthcoming rebrand to Sonic.
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