The crypto markets fell slightly on Wednesday after Jerome Powell, chair of the Federal Reserve, hinted that an October interest rate cut of 25 points may be the last such cut of 2025. Bitcoin dipped 1.6% over the past 24 hours to trade at nearly $111,000, according to data from Binance. Ethereum, the second largest cryptocurrency by market capitalization, was down about 2% to a bit more than $3,900. The total market cap of all cryptocurrencies dropped 1.8%.
While Powell said there were “strongly differing views” among his colleagues about future rate cuts, he added during a press conference that “there’s a growing chorus now of feeling like maybe this is where we should at least wait a cycle.”
