CoinJar

Why September Matters for Crypto August was a good month for crypto. September could shake things up, with four major central banks all making rate decisions within three weeks of each other. September 10: European Central Bank The ECB has been cutting or holding rates all year, but that could change. Inflation in the eurozone is creeping up (2.9% in July, driven by energy costs from the Middle East conflict), and markets now think a rate hike is more likely than not. Why it matters: this would be the first major central bank to turn tighter this year, and tighter policy usually pulls money out of risk assets like crypto. A hold would likely be the better outcome for crypto. September 15–16: US Federal Reserve The big one. This is Kevin Warsh's third meeting as Fed Chair, and the first where he's giving less guidance than usual, so what he says matters more than what he's said before. Rates have been steady all year, and it's close to a coin toss between another hold and a hike. Why it matters: the Fed has the biggest influence on global money flows, so this is the decision crypto watches closest. A hold with calm language could be good for crypto. A hike, or any hint of more hikes coming, probably isn't. September 17: Bank of England UK rates are already high, and inflation ticked up to 2.9% in July. The bank is expected to hold steady, but the vote was close last time and could get closer. Why it matters: the UK doesn't move global markets the way the US does, but if the Bank of England leans hawkish too, it adds to the sense that central banks everywhere are turning tighter at once, and that mood drags on crypto. September 29: Reserve Bank of Australia After three hikes earlier in the year, the RBA has now held steady twice. It doesn't expect inflation back to target until late 2027, and headline inflation is still running at 3.6%. Why it matters: a hold is expected, so it's really about tone. If the RBA hints more hikes could be coming, that's bad for local risk appetite. Softer language could be a mild positive. The bigger picture Four rate decisions, inflation still above target in most of the world, oil near US$94 a barrel, and a Fed chair who's deliberately telling markets less than usual. Add a quarterly crypto derivatives expiry on 25 September, and September is shaping up to be a volatile month rather than a clear-direction one. This content is for information purposes only and does not constitute financial advice. CoinJar Europe Limited is authorised as a Crypto-Asset Service Provider under the Markets in Crypto-Assets Regulation (MiCAR) by the Central Bank of Ireland.