
Donald Trump good news. The market has already priced in approx. 3x rate cuts for the remainder of 2025, a key assumption embedded in current asset valuations—including Bitcoin. Risk assets have rallied on the expectation of lower rates to fund consumption. But is that assumption correct?
But if the Fed stalls on cutting rates or continues selling bonds, then real yields will rise, impacting Bitcoin.
Thoughts? What do you think will happen first: Trump gets impeached again, or the market drops 20% from the new all-time high?
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