10x Research: Powell's speech on Friday may boost risk assets such as stocks and Bitcoin

Odaily Odaily News 10x Research said in its latest analysis that Bitcoin has risen 4% since yesterday, consistent with its bullish outlook. Bitcoin has made a decisive move upward, breaking out of the symmetrical triangle pattern, which suggests that there may be further upside potential. Bitcoin's funding rate has returned to a premium, supported by a $1 billion increase in open interest. Given these dynamics, a straightforward strategy is to long Bitcoin while short Ethereum as Bitcoin's dominance continues to rise and its share of open interest continues to deviate in favor of Bitcoin. The Fed's minutes were as dovish as expected, with a strong focus on the employment side of its dual mandate. Based on current economic data forecasts, the inflation target seems within reach. The "vast majority" of FOMC members support a September rate cut, and several members even see a July rate cut as a viable option. This makes a September rate cut almost inevitable. Powell's upcoming speech on Friday is expected to reinforce this dovish outlook, which may boost risk assets such as stocks and Bitcoin as monetary policy provides a favorable backdrop. The Fed's focus is shifting to employment when making decisions, and inflation data is becoming less important, especially as CPI trends toward 2.5% in the coming months. Multiple rate cuts may be needed to maintain the current economic expansion.