The Growing Case for ETH Outperformance in Q4
Sep 7, 2023
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The US Dollar Wrecking Ball Continues
Last week, our near-term outlook remained uncertain, though we leaned toward the possibility that a positive catalyst, such as a victory for Grayscale, could coincide with easing liquidity conditions. This would mark a significant departure from the tightening conditions—indicated by the DXY—that followed the last two crypto-specific catalysts this year.
The likelihood of interest rates reaching a peak, the dollar beginning to decline, and liquidity conditions finding a local low was supported by several factors: (1) ongoing softening in U.S...