On August 22nd, 10x Research said in its latest analysis that Bitcoin has risen by 4% since yesterday, consistent with its bullish outlook. Bitcoin made a decisive upside, breaking out of the symmetric triangle pattern, indicating that there may be further upside potential. Backed by an increase of $1 billion in unpositioned squaring contracts, Bitcoin's funding rate is back at a premium. Given these dynamics, a straightforward strategy is to go long Bitcoin and short Ethereum, as Bitcoin's dominance continues to rise and its share of unpositioned squaring positions continues to deviate in favor of Bitcoin. The Fed's meeting notes were, as expected, dovish, with a strong focus on the employment side of its dual mandate. Based on current economic data projections, the inflation target appears within reach. "The vast majority" of FOMC members support a September rate cut, and several even see a July rate cut as a viable option. This makes a September rate cut all but inevitable. Mr. Powell's forthcoming speech on Friday is expected to reinforce that dovish outlook, potentially boosting risk assets such as equities and bitcoin as monetary policy provides a favorable backdrop. The Fed's focus in policymaking is shifting to employment and inflation data is becoming less important, especially as CPI heads towards 2.5 per cent in the coming months. Multiple rate cuts are likely to be needed to sustain the current economic expansion.