{"id":41836,"date":"2025-08-12T22:01:54","date_gmt":"2025-08-12T22:01:54","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=41836"},"modified":"2025-08-12T22:01:54","modified_gmt":"2025-08-12T22:01:54","slug":"ether-cardano-xrp-among-cryptos-taking-new-leg-higher-as-scott-bessent-floats-50-basis-point-rate-cut","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=41836","title":{"rendered":"Ether, Cardano, XRP Among Cryptos Taking New Leg Higher as Scott Bessent Floats 50 Basis Point Rate Cut"},"content":{"rendered":"<div>\n<p>Altcoins added to their rally during late Tuesday U.S. afternoon hours after Treasury Secretary Scott Bessent suggested the Federal Reserve should consider a 50 basis point rate cut at its upcoming September meeting.<\/p>\n<p>&#8220;The real thing now to think about is should we get a 50 basis-point rate cut in September,&#8221; Bessent told Fox News. Bessent added that the Fed could have cut rates in June if it had been given accurate data, which he described as a \u201cfoundational issue&#8221; at the central bank.<\/p>\n<p>Markets had already about fully priced in a 25 basis point move in September, but the idea of 50 basis points appeared to juice things further.<\/p>\n<p>To be sure, Bessent is Treasury Secretary and not a member of the Federal Reserve, let alone its chairman. Bessent, however, has been tasked by President Trump with selecting a replacement for Fed Chair Powell, so his words surely carry some weight.<\/p>\n<p>Already higher on the day, ether jumped further, now higher by nearly 9% over the past 24 hours and above $4,600 for the first time since November 2021.<\/p>\n<p>Other moves include cardano (ADA), solana (SOL) and litecoin (LTC), each ahead about 8% over the past 24 hours, while XRP (XRP) is up 3.5%.<\/p>\n<p>Bitcoin (BTC) bulls stayed on the sidelines during today\u2019s rally, which also lifted equity markets by more than 1%. The cryptocurrency is trading at $120,000, little changed over the past 24 hours. The dollar weakened against all major currencies.<\/p>\n<p>The rally got started early on Tuesday morning after new data showed consumer prices rising roughly in line with estimates in July.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Altcoins added to their rally during late Tuesday U.S. afternoon hours after Treasury Secretary Scott Bessent suggested the Federal Reserve should consider a 50 basis point rate cut at its upcoming September meeting. &#8220;The real thing now to think about is should we get a 50 basis-point rate cut in September,&#8221; Bessent told Fox News. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-41836","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/41836","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=41836"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/41836\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=41836"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=41836"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=41836"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}