• Bitcoin remains stable around $58,480 with slight movements in other cryptocurrencies like XRP, SUI, and FTM.

• The market anticipates the Federal Reserve's potential interest rate cut on September 18, which is expected to influence risk assets positively, with a 67% probability of a 50 bps rate cut.

• Former President Donald Trump's associated project, World Liberty Financial, announced the launch of a governance token exclusively for U.S. accredited investors.

Bitcoin (BTC) and broader crypto markets have changed little in the past 24 hours as traders await a Federal Open Market Committee (FOMC) meeting on Wednesday, where officials are expected to announce their first rate cuts in four years.

Bitcoin is trading below $58,500 at $58,480 and is relatively flat. The CoinDesk 20 (CD20), a measure of the largest digital assets, is up slightly, trading above 1,800.

Daily inflows into the bitcoin exchange-traded funds (ETFs) came in at $12.9 million, with most going to BlackRock’s IBIT.

The Fed is widely expected to announce an interest rate cut on Sept. 18, kicking off the so-called easing cycle, which has historically supported risk assets, including bitcoin.

As of Asian morning hours Tuesday, the 30-Day Fed Funds futures prices show traders see a 67% probability of big 50 bps rate cut to the 4.7%-5% range. This is a bump from Monday’s 50% implied probability and a large jump from the 25% probability from a month ago.

On Polymarket, traders are giving a 57% chance of a 50 bps decrease and a 41% chance of a 25 bps decrease.

Elsewhere, the market remains fairly flat. Notable movers include XRP up 3.5%, SUI up 2.5%, and Fantom’s FTM, up 10.5% on continued positive market sentiment from its upcoming re-brand to Sonic.