Crypto poised for boost if Fed cuts rate by 50 bps, says hedge fund boss

If the Fed cuts rates by just 25 bps, “crypto will likely fall along with that,” said CEO of crypto hedge fund Asymmetric, Joe McCann.

A large interest rate cut by the United States Federal Reserve would be better for risk assets and the crypto markets and not bearish as some believe, says the chief of a crypto hedge fund.

Asymmetric founder and CEO Joe McCann told Cointelegraph it was a “coin flip” on a 25 or 50 basis point interest rate cut as the US central bank is poised to cut rates from their current 24-year high of 5.5% on Wednesday, Sept. 18, for the first time since March 2020.

McCann said when an outcome is priced at a 70% chance in the Fed futures markets, it historically has a 100% success rate.

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If the Fed cuts rates by just 25 bps, “crypto will likely fall along with that,” said CEO of crypto hedge fund Asymmetric, Joe McCann.
A large interest rate cut by the United States Federal Reserve would be better for risk assets and the crypto markets and not bearish as some believe, says the chief of a crypto hedge fund.Asymmetric founder and CEO Joe McCann told Cointelegraph it was a “coin flip” on a 25 or 50 basis point interest rate cut as the US central bank is poised to cut rates from their current 24-year high of 5.5% on Wednesday, Sept. 18, for the first time since March 2020.McCann said when an outcome is priced at a 70% chance in the Fed futures markets, it historically has a 100% success rate.Read more