Stick with Bitcoin and Avoid Ethereum, says 10x Research after Fed Predicts Sole Rate Cut in 2024

10x Research advises investors to stick with Bitcoin (BTC) and avoid Ethereum (ETH), emphasizing that BTC tends to rally after softer-than-expected CPI releases. Despite the Fed's hawkish rate projections and prediction of only one rate cut in 2024, 10x Research maintains a positive outlook on BTC. They anticipate the rally will resume as the Fed signals more rate cuts later this year.

The softer-than-expected CPI release on Wednesday led to ETF inflows of $100 million, suggesting renewed interest in BTC. 10x Research believes that lower CPI numbers tend to boost BTC prices, and they expect this trend to continue.

The Fed's previous rate projections in March included three rate cuts, but the revised prediction of only one cut spooked markets and sent BTC lower. However, 10x Research founder Markus Thielen remains confident in BTC's long-term rally.