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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.
40:37
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Quick takeaways
- The U.S. dollar's ongoing strength poses a significant threat to risk assets like cryptocurrencies, affecting investor sentiment and market dynamics.
- A cautious yet optimistic forecast for early 2025 highlights potential investment opportunities in emerging cryptocurrencies while acknowledging the need for defensive strategies.
Deep dives
Market Response to Federal Reserve Actions
The discussion highlights the market's reaction to the Federal Reserve's recent decisions, particularly the unexpected hawkish tilt announced in December. Technical indicators pointed to a potential reversal for Bitcoin as it struggled to maintain momentum, with a notable 'swing failure pattern' observed before the Fed's meeting. Investor sentiment was high heading into the meeting, anticipating a holiday rally that ultimately did not occur, leading to a significant increase in the volatility index (VIX). The unexpected move by the Fed resulted in one of the largest historical fluctuations in the VIX, prompting concerns about market stability and the future of risk assets.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode