Bitcoin 
$77,560‘s price has reached a new all-time high of $113,788.23 just minutes ago, marking an unprecedented surge. Similarly, altcoins are seeing gains of up to 7%. This rally is attributed to the details in yesterday’s Federal Reserve minutes, despite tariff letters suggesting a different economic tone. After months of deferring rate cuts unanimously, the Federal Reserve seems to have reached the end of its current monetary policy path.
Cryptocurrencies on the Rise
Federal Reserve member Waller has been highlighting July as a favorable period for interest rate cuts for several weeks. Two other members also indicated their support for cuts if backed by economic data. These developments were reported as last-minute updates. Although Waller’s speech today did not contain explicit details about the cuts, he concluded a few minutes ago that the time for easing has come, emphasizing that this is not a political decision.
“Stablecoins are merely a new method of payment. They will enhance competition within payment systems. Demand for cash may decrease and the dollar could become even more widespread globally, facilitated by stablecoins.
Tariffs can cause a one-time price increase, which central banks might overlook. Although the impact of tariffs isn’t zero, it’s not extremely significant either.
We currently have a restrictive policy interest rate, and I argue it could be lowered. Easing monetary policy will not be a political decision.”
Expectations for the effective tariff rate range from 15-20%, with Trump reimposing the April 2 rates on practically all partners. The FedWatch tool is dismissing Waller’s remarks, as expectations for this month lean towards a 6.7% drop. For September, the expectation for a rate cut has increased by 2%, surpassing 65% today.
