Jack Platts, Co-Founder & Managing Partner at Hypersphere Ventures, joins the discussion on how the recent assassination attempt on Donald Trump impacts both the 2024 election and cryptocurrency markets. They explore potential rate cuts and their timing, considering if these will affect Bitcoin's rise. Platts and the hosts also predict the influence of Ethereum ETFs and the dynamics of Solana’s market performance following political events. Insightful analysis unveils the intertwining of macroeconomic trends and crypto investment strategies.
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insights INSIGHT
Trump Trade and Market Reaction
Trump's perceived electability increased after the assassination attempt, impacting crypto markets.
This event triggered a "flight to quality" trade in Bitcoin, similar to the Silicon Valley Bank crisis.
question_answer ANECDOTE
Bitcoin Price and Trump's Previous Election
Bitcoin's price significantly increased since Trump's previous election, from $700 to over $30,000.
Several factors, like regulatory changes, Mt. Gox distributions, and the political climate, influence Bitcoin's value.
insights INSIGHT
Interest Rate Cut Predictions
The market anticipates a rate cut by September, with a small chance of a July cut.
A weak retail sales number could signal a potential July cut, or a larger cut in September.
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In this episode of Bits + Bips, hosts James Seyffart, Alex Kruger, and Joe McCann, joined by guest Jack Platts, dive into the market's reaction to the recent assassination attempt on former President Donald Trump, looking at how this event will influence the 2024 U.S. presidential election—and the crypto markets.
They also cover potential rate cuts: Could there be a cut this July? How big might the rate cut be in September? Could the decision ever be influenced by the upcoming election?
They also give their predictions for what percentage of the BTC ETF inflows the ETH ETFs will reach, and James talks about what he’s expecting for Grayscale’s ETHE (hint: his view would be positive for ETH).
Finally, they delve into what’s next for Bitcoin as the German government runs out of BTC and Mt. Gox distributions begin. Is it up only now?
Show highlights:
00:00 Intro
01:18 Whether the Trump shooting has settled the election and whether the event caused a “flight to safety”
11:23 How election markets are becoming a place to watch election odds and whether crypto “leans right”
20:16 Whether rate cuts are coming in July or September and how much they’ll cut: 25bps or 50bps
29:06 How Joe views the relationship between global liquidity cycles, rate cuts, and Bitcoin's potential rise
34:41 What new updates there are about the Ethereum ETFs and their expected launch
42:08 Why Solana hasn't outperformed significantly since the Trump news
43:25 What market breadth indicates about the current market rally and the impact of rates in small caps
49:01 Everyone’s predictions of ETH ETF inflows and how much outflows we’ll see on Grayscale’s ETHE
53:04 What’s next for BTC after the German government is out of bitcoin, and with Mt. Gox distributions starting this week
Hosts:
James Seyffart, Research Analyst at Bloomberg Intelligence
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