Bitunix analyst: The Federal Reserve signals a rate cut, the dollar may experience severe fluctuation, and Bitcoin's short-term focus is whether it can stabilize above 105K.

BlockBeats News, on June 3, Federal Reserve Chairman Jerome Powell delivered a speech, although he did not directly comment on interest rates, but emphasized that the US dollar policy has changed and may face more violent exchange rate fluctuations in the future, which attracted market attention. On the same day, a number of senior Fed officials successively hinted that interest rate cuts may still be possible this year, among which Chicago Fed President Goolsbee, Governor Waller and Dallas Fed President Logan all said that if inflation slows down and the labor market is stable, it will be reasonable to cut interest rates before the end of the year. Waller further pointed out that if long-term expectations are stable and basic inflation falls, it will support interest rate cuts. The market expects interest rates to remain unchanged in June-July, but the likelihood of a rate cut in the second half of the year has increased, leading to a weaker US dollar in the near term and a higher risk of asset price volatility. Bitunix analysts suggest: The Fed's dovish comments have made the market's risk appetite recover in the short term, but the increased volatility of the US dollar may disrupt the capital layout. Bitcoin's short-term key is located at $105,000, and if it can gain a foothold at this level, it is expected to continue to rise, and investors are advised to closely monitor the changes in the dollar index and interest rate expectations. If the USD weakens further, BTC has a chance to test the upper 110K band; Conversely, if the market reverts to risk aversion, the 102.7K key support needs to be defended. Operationally, it is recommended to maintain a range-bound strategy and observe the change in market sentiment before the FOMC meeting in mid-June.