Jordi Visser Sees December Fed Decision As Bitcoin’s Next Catalyst, Questions Wall Street’s Nvidia Downgrades

ملخص مفصل

Pointing to developments in NVIDIA since last week, Visser said Wall Street’s reaction to them does not add up.

Wall Street veteran Jordi Visser said on Saturday that the Fed's December decision could spark Bitcoin's (BTC) next rally, while calling analysts' Nvidia (NVDA) target cuts "very, very weird."

Speaking with Anthony Pompliano on the Pomp Podcast, Visser said, "Don't be surprised if the catalyst for the next rally is in December, where we don't do 50." He was referring to Fed Governor Christopher Waller, who said on Tuesday that a 50 basis point hike "should be considered" at the December meeting if October inflation came in hot, which it did.

See what 10M+ investors are talking about. Get the Stocktwits Daily Rip for what retail is watching right now, free to your inbox

Visser said many in the crypto community have missed how much the bond market was driving Bitcoin. He pointed to "the largest rise in two-year yields at a week, 35 basis points since 2022." He added, "So that's why Bitcoin is down."

For Bitcoin to recover, inflation fears should fade, allowing the Fed to stop raising rates, Visser added, opposing Arthur Hayes's stance, who saw Bitcoin going higher if interest rates rise.

But Visser's point stands on his explanation that Brent crude was back to its March price and inflation swaps were "at the lows of the year." That is why he sees the Fed's December meeting as a possible turning point.

Visser still expected the Fed to keep raising rates, saying there are "probably at least two more hikes." His point was that a smaller increase in December, rather than a half-point hike, or 50 basis points, could be enough to spark a rally. "We need the liquidity side to turn it around," he said.

After the market learned of Nvidia CEO Jensen Huang's departure, Bitcoin's decline accelerated. On November 10, it fell below $73,000, its lowest level since August.

When asked whether the AI sell-off was dragging on Bitcoin, Visser said, "Not right now. It was last week." He explained that he thought of Bitcoin "as being two separate parts.

مطلع المقال، مقتطف من Yahoo Finance. لقراءة المقال كاملًا، افتحه على موقع الناشر.