Two Polymarket Traders Bet $3 Million On Different Fed Rate Cuts As Bitcoin Hopes For Bullish FOMC Meeting

Bitcoin (CRYPTO: BTC) is hovering around $116,000 ahead of Wednesday’s Federal Reserve interest rate decision as traders on Polymarket are heavily betting on both a 25 basis points and a 50 basis points cut.

What Happened: At the time of writing, a 25 basis points cut is priced at 90%, compared to 8% for a 50 basis points cut and 2% for no cut.

The CME FedWatch tool shows a 94% chance of a smaller cut and a 6% of a bigger cut, with additional cuts expected in October …

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