Market participants are pricing in a 55% chance of a 50 basis point rate cut, which seems unreasonable to me. After the Jackson Hole data was released, U.S. economic data showed strong business growth and consumer spending, but the labor market was slightly disappointed. A 25 basis point rate cut is healthier for current market conditions and allows for more flexibility to adjust as future data changes.
Just found an interesting clue... $BTC performance this year has been more correlated with commodities than stocks. If we take a positive view on commodity prices following a shift to a quantitative easing cycle, what impact do you think this will have on cryptocurrency prices? 🤨
