Potential Impact of Federal Reserve Rate Cut on Bitcoin and Risk Assets

According to BlockBeats, Chris Burniske, former head of crypto at Ark Invest and current partner at Placeholder VC, has commented on the potential effects of the upcoming Federal Reserve rate cut. Burniske suggests that while the rate cut might initially trigger a wave of risk appetite in the market, this optimism could quickly turn to pessimism due to underlying concerns. He anticipates that Bitcoin may initially follow the trend of gold. However, if risk assets face a sell-off in the fourth quarter, cryptocurrencies are likely to experience significant impact.