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All eyes on the Fed đź‘€
The crypto market is on tenterhooks awaiting the Fed's interest rate decision this week—while Trump's economic adviser has been confirmed to its Board of Governors.
Stephen Graves
September 16, 2025
đź“ť What you need to know
There’s only one thing on market-watchers’ minds this week: the Fed’s looming interest rate decision. Altcoin open interest has surged, while Bitcoin is holding steady despite geopolitical tensions, leaving traders furiously poring over what happened last time around.
Over on prediction market Myriad (launched by Decrypt’s parent company DASTAN) the consensus is overwhelmingly leaning towards a 25bps rate cut, though a small number of holdouts are anticipating a 50bps rate cut.
Perhaps the more interesting news to come out of the Fed this week, though, is the confirmation of Trump economic adviser Stephen Miran to the Board of Governors, over the protests of Democratic lawmakers who argue that it threatens the central bank’s independence. Miran, who’s previously argued that crypto has a “big role” to play in innovation, is also hawkish on deregulation.
If Trump is tightening his grip on the Federal Reserve, it doesn’t appear to have threatened Fed Chair Jerome Powell’s position; Myriad predictors put a 90% chance on him sticking around through the end of the year.
đź“Š Myriad Market of the Day
đź’¬ Quote of the Day
“The Fed’s rate cut decision could cause retail to assume its bullish while whales lever up on shorts and push a liquidation event.”
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