According to a post by 10x Research, it is only a matter of time before Bitcoin reaches a historic high. The head and shoulders pattern indicates that Bitcoin will soon rebound to $83,000, with the resistance line likely to be broken in the coming days. The ideal time to break this resistance is today (Friday, June 7) or next week (Wednesday, June 12). A few days ago, we pointed out that the global central bank easing cycle is about to begin, and this week’s rate cuts in Canada, Denmark, and Europe have confirmed this. With the weakening of the US economy, employment, and consumer spending, inflation slowing down is just a matter of time. Although the Federal Reserve has only cut rates once in the May to November period before a US presidential election in the past 30 years, the main risk assets depend on the market’s expectations of rate cuts, not necessarily the actual rate cuts.
