Geopolitical developments and Fed policy signals are driving near-term risk asset rallies that can produce 2-3x returns from support levels

"Progress toward reopening the Strait of Hormuz has sent crude oil prices lower by roughly 10% on the week. Cheaper oil eases near-term inflation pressure. That has cut the CME FedWatch-implied probability of a September rate hike from 67% last week to approximately 55%."

"Trump's latest comments on Iran talks sent oil prices lower and risk assets higher, giving Bitcoin the push it needed to reclaim $60,000 for the first time in over a week. The bounce comes after BTC hit a 21 month low of $58,188 late last month."