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Tom Lee, chairman of Ethereum accumulation company DAT and Bitmine (BMNR), said in an interview with CNBC that until before last week’s jobs report, markets had been pricing in a strongly hawkish Federal Reserve stance.
Lee said markets at the time had reflected the possibility of three additional rate hikes, with the odds of an October increase priced at around 75%. But weaker-than-expected employment data shifted the outlook, Lee said. Lee added that record highs in tech stocks and strength in cryptocurrencies are moves that would be difficult to see under tight financial conditions, indicating that stock and crypto markets are now front-running the possibility of easier financial conditions ahead, according to CNBC.