Why Macro Hints to a Possible Crypto Supercycle: Bits + Bips
Is the market underweighting the potential for the total crypto market cap to go to $10 trillion in the next few years? Yes, say these traders and analysts.
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In this first episode of Bits + Bips, hosts James Seyffart, Alex Kruger, and Joe McCann explain why the macroeconomics could point to the markets actually being in a crypto supercycle.
They discuss the recent Federal Reserve meeting and its impact on the markets, as well as the irony that leveraged Ethereum futures ETFs will likely be approved while spot Ethereum ETFs will likely not. James also reveals his pet theory on where the SEC is going with its investigation into ETH. They cover why the bottoming of emerging market currencies in Asia is good for Bitcoin, dismiss the recent Wells notice issued to Robinhood, and speculate that Tether may be the most profitable company per employee in the world.
Agreeing that the current market cycle is different, Seyffart and McCann suggest that there is still a long way to go, and assert that the market may be underweighting the possibility that crypto goes to a $10 trillion market cap in the next few years.
Show highlights:
🔹 The Fed's recent decisions and how they lower the chances of more rate hikes
🔹 The importance of global liquidity in the performance of risk assets like Bitcoin and crypto assets
🔹 Why a bottoming in the value of the yen, yuan and other emerging markets currencies is good for Bitcoin and crypto, according to Joe
🔹 The irony that leveraged Ethereum futures ETFs are likely to be approved but spot ETFs are not
🔹 James’s pet theory about how the SEC will rule on whether ETH is a security
🔹 Whether trading in Hong Kong's crypto ETFs shows how little interest there would be in an ETH ETF compared to spot BTC ETFs
🔹 Grayscale’s Bitcoin Mini Trust ETF
🔹 Whether people are underweight on a “crazy bonkers rise” in crypto
🔹 Why Robinhood's Wells Notice is a "minor story," according to Alex
🔹 Whether Tether is the most profitable business per employee in the world
🔹 Why James believes that it's not a good idea for the US Congress to be against stablecoins
🔹 CZ's sentence and whether it's a "good ending for the story"
Hosts:
⭐️ James Seyffart, Research Analyst at Bloomberg Intelligence
⭐️ Alex Kruger, Founder of Asgard
⭐️ Joe McCann, Founder, CEO, and CIO of Asymmetric
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Time Stamps:
00:00 Introduction
01:12 The impact of the Fed's recent decisions on future rate hikes
07:12 The role of global liquidity in influencing risk asset performance
13:41 Why a weaker Japanese Yen is beneficial for Japan, according to Alex
14:52 The unlikelihood of spot ETFs following Ethereum futures ETFs approval
23:54 Analyzing Hong Kong's ETF trading to gauge interest in ETH vs. BTC
26:52 How ETF issuers profit from their current Assets Under Management (AUM)
33:37 Supercycle incoming?
43:23 Alex's perspective on why Robinhood's Wells Notice is a minor issue
46:46 Tether's incredible business model
51:12 Why opposing stablecoins might not be beneficial for the US
54:18 Reflections on CZ's sentence
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#bitcoin #ethereum #crypto #cryptocurrencies
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