CoinMeta data: John Williams, president of the Federal Reserve Bank of New York, stated that there is no need to rush to raise interest rates again at this time. The probability of a rate hike in October has dropped from over 70% to 44%. This change could bring some much-needed relief to Bitcoin and the broader crypto market. In a speech at the University at Buffalo, Williams mentioned that the Federal Reserve unanimously decided last month to raise interest rates to 3.75%-4%, providing policymakers with sufficient time to assess new economic data. Although Williams called for more time to evaluate the data, Federal Reserve Board member Michael Barr said that strong demand for artificial intelligence and higher oil prices may require recalibration of policy. The current total market value of the global crypto market is approximately $2.95 trillion, with Bitcoin accounting for about $1.67 trillion, holding a market share of 56.62%. Meanwhile, approximately 13,800 Bitcoins flowed out of Binance, marking the largest single-day net outflow since 2023.