Matrixport: BTC is at a critical stage, influenced by the Fed’s signals, election momentum and economic data

Odaily Odaily News Matrixport released a chart saying that Fed Chairman Powell hinted at a possible rate cut, coupled with the positive momentum of the US presidential election, may create a favorable environment for Bitcoin. Surprisingly, traders are cautious and hesitant to increase risk exposure before the release of US employment data next week. Although recession concerns may trigger more monetary stimulus policies, historical data shows that this is usually beneficial to Bitcoin, but the next 2-3 weeks will be a critical period. Important events include the US employment report, the presidential debate between Harris and Trump, and the FOMC interest rate decision.