Supply Shock On the Margin: FLASH UPDATE: The Dollar Rally Isn’t Over — What It Means For Risk Assets | Joe McCann
Jan 8, 2025
Joe McCann, Founder and CEO of Asymmetric Fund, shares his insights on the current macro landscape and its effects on risk assets. He discusses the implications of a strengthening US dollar for cryptocurrencies and highlights his strategic Bitcoin reserves. Joe also examines the potential for Solana's ETF success while critiquing Ethereum's outlook. With a focus on market indicators and cautious optimism, he maps out his crypto shopping list and reflects on future trends as we head towards 2025.
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Market Reversal Signals
- Joe McCann's bearish view is driven by market signals like swing failures in Bitcoin and S&P 500, a hawkish Fed, and collapsing liquidity.
- These signals, combined with technical analysis and lack of inflows, suggest a potential market reversal.
Market Focus on Growth
- The market's focus on growth, not inflation, is reflected in the steeping yield curve.
- This suggests the economy isn't at risk, despite the Fed's hawkish stance and potential rate cuts being mispriced.
Dollar Strength and Risk Assets
- The US dollar's strength is problematic for risk assets, and its rise doesn't seem to have peaked yet.
- This suggests a potential opportunity to buy risk assets at lower prices if the dollar continues to appreciate.