The Fed has a new voice again. Minneapolis Fed President Kashkari just said: I disagreed with the last rate cut, and he advocates for a direct pause in the October meeting, urging not to rush into further rate cuts.

The key point is that the economic resilience is unexpectedly strong, which has become his main reason. As for what to do in December? Kashkari means to wait and see the data; it could be lowered or not, leaving enough room for adjustment.

The Fed is further dividing internally. The hawkish voices are rising, which means that for the crypto space, the expectation of tightening liquidity may continue.