Happy Wednesday!

Bitcoin is struggling to keep up with the Nasdaq and gold, and Peter Schiff may be right to ask an important question: why isn’t digital gold keeping up?

The Fed is set to cut interest rates today, but the important question is by how much? Some people are betting millions on Polymarket on different outcomes.

Plus, if you are interested in learning how to capitalize on interest rate moves using leveraged and inverse ETFs, check out this free webinar tomorrow from today’s sponsor.

TOP STORY

Peter Schiff Asks Again Why Bitcoin Isn't Hitting New Highs Like Stocks, Gold, Miners ETF — Here Is What BTC Backers Are Saying

Economist Peter Schiff continued to question Bitcoin's lack of momentum on Monday, while stocks and gold surged to fresh record highs.

In an X post, Schiff questioned why the Nasdaq Composite, gold and silver are hitting new highs "almost daily," while the apex cryptocurrency hasn't made a new high in more than a month.

Nasdaq Composite indeed hit a record high of 22,348.75 on Monday. Similarly, spot gold rose above $3,700 per ounce, while silver surpassed $42 per ounce to reach fresh highs. The VanEck Gold Miners ETF also hit a new peak past $70 earlier this week.

But what about Bitcoin?

Read the full scoop here.

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QUICK N DIRTY

Bitcoin, Ethereum, Dogecoin, XRP are in a holding pattern ahead of a pivotal Federal Reserve interest rate decision: here’s what’s driving the market today.

Metaplanet and Forward Industries keep advancing their Bitcoin and Solana treasury company strategies: here’s how they’re going about that.

Dogecoin is set to see its first ETF launch tomorrow and momentum could carry it to 60 cents — under one condition.

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FINTECH FOCUS

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

Bitcoin is hovering around $116,000 ahead of Wednesday's Federal Reserve interest rate decision, and traders on Polymarket are heavily betting on both a 25-basis-point cut and a 50-basis-point cut.

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% chance of a bigger cut, with additional cuts expected in October and December.

On Polymarket, trader bobe2 has bet $2.4 million on a smaller cut and stands to win about $180,000. Another trader, kingk8, has bet $502,000 on a 50 basis points cut, with a potential payout of $2.5 million in pure profit.

What can we expect from the Fed today?

Read the full scoop here. 

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