December Fed cuts unlikely, but Bitcoin will be fine: Kevin O’Leary
Kevin O’Leary believes the Fed will not cut rates in December, but this won't negatively affect Bitcoin's price.Summary
Entrepreneur and investor Kevin O’Leary stated he does not expect the US Federal Reserve to cut interest rates in December, citing persistent inflation as a reason. Despite market expectations heavily favoring an 89.2% chance of a cut according to the CME FedWatch Tool, O’Leary is not basing his investment strategy on that possibility.
Crucially, O’Leary does not anticipate that a Fed rate hold will negatively impact Bitcoin. He suggests Bitcoin has found a stable level and will likely trade within a 5% range in either direction, noting a lack of significant upside catalysts currently. This contrasts with the typical bullish sentiment surrounding Fed rate cuts, which usually encourage investors to move from less lucrative bonds into riskier assets like crypto.
(Source：Cointelegraph)