Emrys Thane

As we enter the second half of 2025, the macroeconomic landscape presents a fascinating paradox: a resilient U.S. economy coupled with persistently stubborn inflation, creating headwinds for risk assets including cryptocurrency. Today, with Bitcoin trading around $107,262 and the Federal Reserve maintaining its hawkish stance, it's crucial to understand how traditional economic forces are reshaping digital asset strategies. The Fed's New Reality: Fewer Cuts, Bigger Impact The June 18th Federal Reserve meeting delivered a sobering message to markets: the central bank's "dot plot" now projects only one to two rate cuts for 2025, significantly fewer than the four to six cuts markets had priced in earlier this year. With the federal funds rate holding steady at 4.25%-4.50%, we're witnessing a fundamental shift in monetary policy expectations. This isn't just academic—it directly impacts crypto valuations. When risk-free Treasury yields sit at 4.29% for the ...