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Tom Lee: The strength of cryptocurrency and technology stocks reflects market expectations that financial conditions will become looser in the future

PANews reported on October 5 that Tom Lee, chairman of the Ethereum treasury company BitMine, said in an interview that before the non-farm payrolls report was released last week, the market generally expected the Federal Reserve to maintain a very hawkish stance and expected to raise interest rates three times throughout the year. The probability of an interest rate increase in October was as high as 75%. The latest non-farm payroll data fell short of expectations, and US September inflation data will be released in two weeks. He predicts that in the next six months, the special factors that once disturbed inflation will subside, inflation will continue to cool down, the Federal Reserve will have room to weaken its aggressive attitude towards raising interest rates, and U.S. bond yields are expected to return to normal. It pointed out that technology stocks continue to hit new highs and cryptocurrencies are strengthening, which itself is a market signal. It is difficult for such risky

PANews reported on October 5 that Tom Lee, chairman of the Ethereum treasury company BitMine, said in an interview that before the non-farm payrolls report was released last week, the market generally expected the Federal Reserve to maintain a very hawkish stance and expected to raise interest rates three times throughout the year. The probability of an interest rate increase in October was as high as 75%. The latest non-farm payroll data fell short of expectations, and US September inflation data will be released in two weeks. He predicts that in the next six months, the special factors that once disturbed inflation will subside, inflation will continue to cool down, the Federal Reserve will have room to weaken its aggressive attitude towards raising interest rates, and U.S. bond yields are expected to return to normal. It pointed out that technology stocks continue to hit new highs and cryptocurrencies are strengthening, which itself is a market signal. It is difficult for such risky assets to rise in a tight monetary environment. The current market reflects that the market has anticipated in advance that financial conditions will become looser in the future.

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