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JPMorgan’s latest report casts doubt on the potential for a crypto bull market despite widespread anticipation of Fed rate cuts this month.
JPMorgan Questions Crypto Bull Market Potential
Traders and investors around the world are quite worried about JPMorgan's recent comments regarding Fed rate decreases.
Today, JPMorgan's head of global and European stock strategy downplayed the likelihood of a future bull market for Coingape shares, even if expectations of interest rate reduction are increasing.
Markets Prepare for Potential Volatility
The stock and cryptocurrency markets are bracing for impending emotive upheavals, as the declaration has already ignited worldwide discussions.
"Any policy easing would be in response to slowing growth, making it a 'reactive' reduction," Mislav Matejka's team indicated, according to a recent Fortune piece dated September 3. The imminent September meeting of the Federal Reserve is widely anticipated to bring about rate reduction, which is the main reason behind this announcement by JPMorgan's staff.
September Historically Challenging for US Stocks
September has traditionally been the worst month for U.S. stocks, according to the research, which highlights the seasonal trend as an additional challenge.
"We are not out of the woods yet," Matejka declared. "Sentiment and positioning indicators look far from attractive, political and geopolitical uncertainty is elevated, and seasonals are more challenging again in September," he continues.
S&P 500 Reaches New Heights Amid Fed Expectations
As investors braced for the Federal Reserve to begin slashing interest rates during its upcoming policy meeting on September 17–18, the S&P 500 bounced back from its early August drop to hit a new record high. Additionally, the global equity index, the MSCI All-Country World Index, is presently at a record high. At the same time, today, the S&P 500 was up by one percent.
The stock market's momentum is expected to slow as it approaches a new high, according to the JPMorgan team cited earlier, even though the market as a whole is still bullish about the Federal Reserve's September rate cuts. The impending US jobs report is also expected to cause additional volatility in the cryptocurrency market.
Crypto Market Reacts with Caution to Rate Cut News
Notably, the cryptocurrency market reacted skeptically to JPMorgan's Fed rate decrease announcement. Despite anticipation of interest rate cuts, the cryptocurrency market has shown slow performance, causing industry participants to raise concerns.
The reason the rate drops for September don't match was revealed by BitMEX co-founder Arthur Hayes, who took to X today. In Hayes's view:
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