What Sparked the Shift?
Market sentiment improved following comments from Federal Reserve Governor Christopher Waller, who expressed clear concern over a weakening labor market and rising unemployment.
Waller stated he is “advocating for a rate cut at the next meeting”, adding that the Fed may adopt a meeting-by-meeting approach starting January.
His remarks were reinforced by New York Fed President John Williams, who also signaled openness to easing policy — boosting confidence across risk assets.
As a result, odds of a December rate cut jumped to 70% on Polymarket.
Market Reaction
- Bitcoin (BTC) traded around $86,300, down 0.7%, showing mild short-term weakness despite improving macro sentiment.
- Altcoins reacted mixed but remain sensitive to upcoming macro data and Fed commentary.
Bottom Line
- The Fed’s tone is turning decisively dovish.
- Labor market concerns are pushing policymakers toward preemptive easing.
- Crypto stands to benefit from rate cuts + QT end + rising liquidity.
- Short-term volatility may persist, but macro momentum is shifting bullish.
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