Traders Boost Bets on Two Fed Rate Hikes by End of 2026

The read-through for crypto and tokenized real assets is a macro one: a steeper Fed path raises the opportunity cost of holding non-yielding exposure and typically firms the dollar, which has been the dominant swing factor for risk appetite in this sector. Positioning itself is the story here — traders are repricing the policy trajectory, not reacting to a single data point, and that kind of shift can outlast the headlines that triggered it. What's worth watching is whether this hawkish repricing holds or fades as actual policy communication catches up to the wagers.