The Federal Reserve is expected to announce a third consecutive interest rate cut during its meeting on Wednesday. Economists predict a 25-basis-point reduction, bringing the federal funds rate down to a target range of 4.25% to 4.5%. The probability of a rate cut stands at 95.4%. This expectation has strengthened due to positive economic data, including job growth and inflation meeting expectations. The crypto markets are experiencing increased volatility ahead of the interest rate decision, with Bitcoin and Ethereum both seeing declines. The overall crypto market capitalization has also dropped. Pudgy Penguins' PENGU token experienced the biggest losses among the top 100 crypto assets at 55%.



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