Crypto Markets Enter Bull Market's Early Innings
Crypto markets have entered a 'heads I win, tails you lose' regime, according to Fundstrat's Tom Lee. Despite the Senate's failure to advance the Clarity Act and the Fed's rate hike, Bitcoin prices went up anyway.
This paradox is seen as confirmation that crypto has entered a bull market's early innings, where good news moves prices and bad news fails to register. The hosts of Bankless agree with Lee that we are in this regime, where 'good news is good and bad news doesn't matter.'
The Clarity Act fell 11 votes short of the supermajority needed to proceed, but regulators acted immediately, with SEC Chairman Paul Atkins stating they will act decisively within their statutory authority. CFTC Chairman Mike Selig declared the US remains the crypto capital of the world.