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Bitcoin and Ethereum briefly dipped before rallying after Federal Reserve minutes revealed two governors favored an interest rate cut in July. The dissent marks the first time since 1993 that two Fed governors disagreed on monetary policy. Cryptocurrencies quickly recovered losses as traders digested the implications of potential rate cuts.
- Two Fed governors dissented for the first time since 1993, favoring a 0.25% rate cut citing inflation near target excluding tariffs
- Bitcoin and Ethereum initially dipped then rallied, with BTC gaining 0.6% to $114,253 and ETH up 1.2% to $4,347 post-release
- Next FOMC meeting is in September, with markets watching Powell's Jackson Hole speech for further policy signals
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