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Polymarket users <a href="https://x.com/DeItaone/status/1820440417080401973" rel="noopener noreferrer nofollow">believe</a> that there is a 55% chance of the U.S. Federal Reserve implementing an emergency rate cut.&nbsp;
Earlier today, the Japanese stock market endured its worst crash since 1987, with Japan's flagship Nikkei 225 index collapsing by more than 12%.&nbsp;
This came after the Bank of Japan made a hawkish turn, raising the key interest rate and strengthening the yen.&nbsp;&nbsp;
South Korean stocks have also suffered their worst plunge since 2008.&nbsp;
U.S. stocks are also under severe bearish pressure. The S&amp;P 500 index opened 4.2% lower. Meanwhile, the tech-heavy Nasdaq 100 index has plunged by more than 6%. The shares of tech giant Microsoft have shed 4.6%, while Tesla is down as much as 12%.
During a recent <a href="https://x.com/SquawkCNBC/status/1820420112895074315" rel="noopener noreferrer nofollow">appearance</a> on CNBC, Wharton's Jeremy Siegel advocated for a 75-basis point emergency rate cut. He believes that it should be followed by another rate cut of the same size in September.&nbsp;
For now, such a scenario seems to be unlikely. The markets are currently pricing in only a 16% chance of 75 basis points worth of cuts before September.&nbsp;
"At the end of the day you are long excess liquidity and actually short equity volatility. That’s your bet if you can live with numerous 50-70% drawdowns," CNBC contributor Lawrence McDonald said.&nbsp;
Earlier today, the <a href="https://u.today/rich-dad-poor-dad-author-reacts-to-bitcoin-crash" rel="noopener noreferrer nofollow">Bitcoin price</a> collapsed to an intraday low of $49,577. The largest cryptocurrency is currently trading slightly above the $52,000 level, with rate cut discussions slightly improving sentiment. Still, Bitcoin is down as much as 14% over the past 24 hours.
Unlike gold, it has failed to act as a hedge against global market volatility.&nbsp;

Traders Betting on Emergency Rate Cut as Bitcoin Price Collapses Below $50K

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