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In this episode of Bits + Bips, hosts James Seyffart, Alex Kruger, and Joe McCann are joined by Sam Callahan of The NewsBlock to explore how macroeconomic factors and liquidity conditions are driving Bitcoin’s price. They dive into the Federal Reserve's recent rate cuts, the impact of Solana's token unlocks, and why many investors are concerned about a potential liquidity crunch. Plus, the panel discusses whether Bitcoin’s price is increasingly dependent on global M2 money supply, and how BlackRock’s Bitcoin ETF options could impact the market.
Is Bitcoin simply a leveraged macro bet? And could Solana’s unlocks cause a price squeeze?
Show highlights:
Alex and Joe’s takeaways from Token 2049 and Solana BreakpointWhy there’s so little attention on Bitcoin at these conferencesThe SOL vs. ETH trade debateWhy Sam thinks that the Fed cut rates to help the TreasuryWhether they think inflation will persist How China's rate cuts aim to boost its economy amidst export challengesHow Bitcoin's correlation with global liquidity can break down during speculative bull runs, despite its typical sensitivity to liquidity conditionsThe pros and cons of the approval of Bitcoin ETF optionsWhy fears about BlackRock and Coinbase's bitcoin holdings are unfounded, according to JamesGeminiStellar
James Seyffart, Research Analyst at Bloomberg Intelligence
Alex Kruger, Founder of Asgard
Joe McCann, Founder, CEO, and CIO of Asymmetric
Sam Callahan, Current Free Agent Analyst & Scribe of the NewsBlock
Sam’s research post with Lyn AldenLinks
Coverage of Unchained on Token 2049 and Solana Breakpoint:
Should the Solana Foundation Be Dissolved? Yes... and No...$1.3 Billion Market Cap BONK Caught Asymmetric Financial's Eye at $28 Million, Founder Tells Solana Breakpoint EventBring Back ICOs, Says Multicoin Capital’s Tushar Jain, Winning Agreement From Debate Adversary Qiao Wang of AllianceDAOPYTH Stakers Get Carrots and Sticks as Douro Labs Rejigs Staking MechanismDeFi Protocol Sky, Formerly MakerDAO, to Launch on Solana BlockchainFiredancer Efforts Bring Solana a Step Closer to Leap in Processing Power, Says Jump Trading’s Science Chief Stoner-Originated Proof-of-Liquidity Network Berachain Scores a Hit at Token2049 Unchained: SOL on Course to Flip ETH, Says Multicoin Capital’s Kyle Samani
Alex’s tweet: “Ironically $SOLETH is barely up in 2024”Rate cuts and macro:
- Fed Cuts Rates for First Time Since 2020
China:
- Reuters: China's central bank unveils most aggressive stimulus since pandemic |
CoinDesk: BlackRock Bitcoin ETF Options to Set Stage for GameStop-Like 'Gamma Squeeze' RallyDecrypt: SEC Hits Pause on Ethereum ETF Options Following Bitcoin Nod - Unchained: Kamala Harris Makes Her First Comments on CryptoHarris Commits to Prioritizing Emerging Industries Like Blockchain in Speech00:00 Intro02:55 Takeaways from Token 2049 and Solana Breakpoint07:14 Little Bitcoin interest me at conferences12:23 The SOL vs. ETH trade debate17:32 Sam’s view on the Fed’s rate cuts28:55 Will inflation persist?41:14 China’s rate cuts and economic boost49:44 Bitcoin’s correlation with global liquidity1:02:43 Pros and cons of Bitcoin ETF options1:13:23 BlackRock and Coinbase Bitcoin holdings fears
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