According to Cointelegraph, Joe McCann, founder and CEO of cryptocurrency hedge fund Asymmetric, said that a 25 basis point rate cut could be bad for the cryptocurrency market. McCann believes: "If the Fed cuts interest rates by 25 basis points, the stock market will be hit hard. Cryptocurrencies may fall with it. The reason is that if the interest rate is cut by 50 basis points, the stock market will be at an all-time high."
McCann said that if the Fed cuts interest rates by 50 basis points, this could have a positive impact on risk assets such as cryptocurrencies.
