Bitcoin traded near $114K Wednesday as Federal Reserve minutes from the July meeting underscored inflation concerns, tariff effects, and new scrutiny of stablecoins.
Bitcoin climbed back to $114K from an intraday low of $112K as Fed minutes delivered no surprises and struck a slightly hawkish tone. Traders are now looking to Powell’s Jackson Hole speech Friday for clues on a potential September cut.
Officials said businesses were increasingly passing tariff costs to consumers, keeping inflation “somewhat above” target despite slower growth and softer hiring. With unemployment at 4.1%, participants stressed that inflation risks outweighed jobs concerns.
The minutes also flagged payment stablecoins after the GENIUS Act, noting they could improve payment efficiency and boost Treasury demand but also warned of risks to banks, financial stability, and monetary policy.
