Matt Mena, Crypto Research Strategist at 21Shares, stated in a note that this was a “strategic omission” by Powell.
He characterized the narrow focus as “effectively a green light for risk assets” because the US data blackout mutes the macro shocks that typically pressure Bitcoin and nudges policy expectations dovish.
With the federal shutdown halting major releases, such as jobs and CPI, traders and the Fed have less hard information to justify new hikes.
Combined, the odds reflect expectations that extended data delays from the shutdown will prompt the Fed to consider additional easing.
Mena stated:
“The market is clearly digesting gains before its next leg higher, and structurally, it’s hard to see a top forming with liquidity building underneath. Once BTC breaks above $130,000, I expect it to move quickly toward $150,000 – almost like a magnet.”
While gold serves as a hedge against currency debasement, strengthening Bitcoin’s narrative as an asset for the “debasement trade,” Nasdaq represents tech proxies for innovation and growth.
Mena projects Bitcoin could reach $150,000 by year-end, representing a 22% gain from current levels.
He concluded:
“Powell may have stayed silent, but liquidity expectations are apparent, and the rest of the market seems to be catching the bid.”
