Polymarket traders expect Fed rate cut

Polymarket traders are 99% confident the Federal Reserve will cut rates by 25 basis points at the September 18, 2024 meeting, lowering the federal funds rate to 5.00%-5.25%, Crypto Briefing has reported. The CME FedWatch tool, however, shows a 65% chance of a larger 50 basis point cut. Analysts predict this could boost Bitcoin prices but may cause short-term volatility, with a possible 15-20% drop to $40,000-$50,000.