Unchained Bits + Bips: Bitcoin in Geopolitics, ETH’s Momentum, SOL ETFs & China’s Crypto Pivots? - Ep. 748
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Dec 11, 2024 In this insightful discussion, Jamie Coutts, Chief Crypto Analyst at Real Vision, shares his expertise on the evolving macroeconomic landscape and its effects on cryptocurrencies. He delves into Ethereum's strong fundamentals and why it's likely to outperform the market. The changing liquidity landscape due to China's policies is highlighted, alongside the implications of a stronger U.S. dollar for crypto prices. Coutts also analyzes geopolitical views on Bitcoin from figures like Putin and the significance of regulatory shifts under SEC's Paul Atkins.
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Ethereum Fees Growth
- Ethereum fees increase is driven by two factors: activity and ETH price.
- Real activity increases when fees grow faster than market cap/price, indicating network usage.
Rate Cut Puzzle
- Strong employment data and GDP projections suggest no recession, yet rate cuts are expected.
- The market recognizes this disconnect, making the Fed's forward guidance puzzling.
Global Liquidity and China
- Global liquidity depends on Fed policy; emerging markets need the Fed to act first before adding stimulus.
- China's Politburo hints at accommodative monetary policy, similar to pre-2008 stimulus.