According to Odaily Planet Daily, Joe McCann, founder and CEO of cryptocurrency hedge fund Asymmetric, said that a 25 basis point interest rate cut may be unfavorable to the cryptocurrency market.
McCann believes that if the Fed cuts interest rates by 25 basis points, the stock market will be hit hard and cryptocurrencies may fall with it.
McCann said that if the Fed cuts interest rates by 50 basis points, this could have a positive impact on risk assets such as cryptocurrencies.
