CME FedWatch indicated that markets expect the Federal Reserve to leave interest rates unchanged at its June meeting with a 96.9% probability, while the odds of a 25 basis point cut were 3.1%. For July, the tracker showed 90.7% odds of no change and a 9.1% probability of a 25 basis point cut. The update came before nonfarm payrolls data, and rate expectations remain closely watched in crypto markets because monetary policy can affect liquidity and risk appetite.