Fed divided on monetary policy, crypto market revives
The minutes from the July meeting of the U.S. Federal Reserve (Fed) show a notable disagreement among policymakers, with two members voting in favor of an immediate interest rate cut. This marks the first significant division of such nature in over 30 years, reflecting the dilemma of #Fed in the context of inflation and the labor market.
Positive signals for cryptocurrency
The uncertainty in the Fed's policy is creating a wait-and-see mood in traditional financial markets. However, for the cryptocurrency market, this division is seen as a positive signal. The USDX index (U.S. Dollar) is currently at 98.3, down significantly from 110.1 on January 13, 2025, according to data from #NEOTECH . A weaker USD typically favors risk assets like cryptocurrencies, giving them a chance to recover.
Crypto legislation expedited in the U.S. Senate
Meanwhile, in Washington, Senator Cynthia Lummis announced that the U.S. Senate will expedite the passage of bills regarding the structure of the cryptocurrency market. Related committees will begin reviewing the legislation from September, with the goal of finalizing and presenting it to the President before the end of this year.
The combination of the Fed's unclear monetary policy and positive momentum from U.S. legislation is creating a promising context for the cryptocurrency market. This reflects the maturation and increasingly important role of crypto in the global financial system. #anhbacong