Market expectations just shifted sharply on the Fed front. Polymarket traders are now pricing in an 85% probability that the central bank holds rates steady in January—a meaningful move from earlier sentiment. On the flip side, only 14% of the market is betting on a 25 basis point cut materializing. The data suggests traders are increasingly skeptical about near-term rate relief, reflecting the ongoing inflation pressures and policy uncertainty. This kind of pivot in rate expectations typically ripples through crypto markets, affecting everything from Bitcoin's macro positioning to altcoin risk appetite. Worth watching closely as we head into Fed decision season.