Raoul Pal: bitcoin will outperform Nasdaq 100 as rates rise
- —Pal: BTC broke its downtrend against the Nasdaq 100 on the weekly chart
- —The Fed raised rates by 25 bps to 3.75-4.00% on September 16
- —Bitcoin rose from about $75,580 to $81,000+ after the Fed decision
- —The altcoin index outside the top 10 rose 13.67% over the week to $226.27 billion
Why it matters: Pal's thesis runs counter to market expectations: rising rates usually pressure bitcoin, but it rose, which could signal a shift in the macro regime.
Source: Bitcoin.com