Fed rate hike odds at July 29 meeting plunge to 8% after CPI posts largest monthly decline since April 2020, shifting July FOMC meeting expectations.

According to the source, Bitcoin (BTC) fell after the Federal Reserve cut the federal funds rate as traders focused on the FOMC’s guidance that inflation remains above target and policy will remain data-dependent, dampening risk appetite (source: Federal Reserve, FOMC statement). BTC traded lower on major spot venues during and after the policy announcement, signaling a risk-off reaction despite easier headline policy (source: TradingView BTCUSD intraday data; Coinbase BTC-USD price feed). The move underscores that forward guidance and inflation language, rather than the rate move alone, are steering near-term crypto flows and volatility (source: Federal Reserve, FOMC statement).