10x Research: In the current hit-and-run market environment, accurate prediction of macroeconomic events is crucial

In its latest analysis, 10x Research said: “Last week, we predicted that Bitcoin would break out of the symmetrical triangle pattern and rebound to $65,000. Our prediction has already generated a 9% return, and the price is approaching this target. We are at A dynamic, hit-and-run market environment where fast, strategic trades can yield significant gains. At this stage, as long as Bitcoin continues to trade within a broad sideways range, accurate predictions of macroeconomic events are critical. Taking advantage of opportunities is crucial. We had expected the FOMC minutes released last Wednesday to be dovish, with Fed Chairman Jerome Powell likely to highlight weakness in the labor market. Both developments are expected to be interpreted as dovish, fueling a surge in Bitcoin. Our prediction was correct. We also highlighted Bitcoin’s underperformance compared to the Nasdaq, which has been flat. The market's attention is now turning to Nvidia's upcoming earnings and guidance, with options priced at a potential swing of +/-8%, similar to the swing observed following the last earnings release. From a technical perspective, last week’s rally in Bitcoin was a textbook example of support from macroeconomic developments and cross-market analysis. "