European Central Bank Cuts Interest Rates for the First Time in 2019 BitMEX Founder Deploys Shitcoins Bull Market Set to Reawaken

European Central Bank Cuts Interest Rates for the First Time in 2019 BitMEX Founder Deploys Shitcoins Bull Market Set to Reawaken

European Central Bank Cuts Interest Rates for the First Time in 2019 BitMEX Founder Deploys Shitcoins Bull Market Set to Reawaken

Following the Bank of Canada’s decision to lower its interest rate from 5% to 4.75% on Wednesday, the European Central Bank (ECB) also announced a rate cut on Thursday as expected by the market. The interest rate was reduced from its historical high of 4% since September 2023 to 3.75%. This is the first interest rate cut by the ECB since 2019, with Canada being the first G7 country to ease its monetary policy in the current market cycle, followed closely by the ECB. The European Central Bank’s Governing Council stated in a statement:

After the interest rate decision was announced, global stock market indices and Bitcoin both experienced an increase.

With the consecutive interest rate cuts by the Bank of Canada and the ECB, BitMEX founder Arthur Hayes, who has been waiting for this moment, seems to have become impatient. In his latest article, he stated that he will withdraw the US dollars stored in the Ethrna protocol and redeploy them to “junk coins (altcoins)” while waiting for the revival of the cryptocurrency bull market.