Noel Acheson joins the show to discuss why the macro cycle is not benefiting cryptocurrencies, how important the election is to the crypto market, and why the number of crypto ETFs is sluggish.
Posted on September 11, 2024 at 12:00 PM EST.
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As the cryptocurrency market continues to struggle, experts weigh in on whether the sell-off phase is finally over and what lies ahead. In this episode, hosts James Seifert and Joe McCann join guest Noel Acheson to dig into the recent market downturn, the possibility of a 2025 recession, and why the divergence between Bitcoin and gold is puzzling analysts. They also explore the impact of upcoming interest rate cuts, the lingering effects of fiscal dominance, and whether the Ethereum ETF is performing as expected.
Show highlights:
- Why have cryptocurrencies fallen so much recently despite the macro cycle?
- According to Noel, there are three factors weighing on Bitcoin's price at the moment:
- Chances of a US recession in 2025 and how much the Fed will cut interest rates
- Why the current rate-cutting cycle is unusual, why markets are expecting much bigger cuts than usual, and how a spike in inflation could complicate the Fed's response
- Why the U.S. government's reliance on capital gains taxes keeps the K-shaped economy going
- Why financial dominance is a growing concern and why the recent divergence between Bitcoin and gold, which usually move together in times of crisis, is puzzling
- Has retail been buying spot Bitcoin ETFs, or is it just on-chain traders buying them now?
- Why James Says the Ethereum ETF Was a “Complete Failure”
