Bitwise CIO: Cryptocurrencies to surge as Q4 macro uncertainty subsides

Chief Investment Officer Matt Hougan expects cryptocurrencies to rise sharply in October and November as the current macro uncertainty begins to dissipate, stating that ‘the market hates uncertainty and there is a lot of it at the moment’. At this stage, the likelihood of a 50 basis point rate cut in September has declined, although the market generally believes the Fed will cut rates. However, with Wednesday's CPI data and next week's key Fed meeting approaching, the likelihood of a rate cut of more than 125 basis points by December has increased.