The Fed's policy meeting next week will be good for the crypto market:

The Fed's policy meeting next week may delete the wording of "high" inflation. If so, it would be the strongest signal yet that the Fed plans to cut interest rates as early as September and start its easing cycle. Adjusting the description of inflation from high to more moderate words may also lead the Fed to revise another key sentence in the current policy statement: the Fed will not cut interest rates until officials are more confident that inflation will continue to move toward 2%.

Bostic, a 2024 FOMC voter, indirectly hinted at the end of June that if the inflation rate reaches 2.5% or below, it can be used as an indicator to consider adjusting the description of inflation. Many economists believe that the June PCE data released on July 26 will fall to or below this threshold.