QCP Capital: Market panic is gradually easing, and the probability of interest rate cuts in September and December is increasing

2024-07-06 08:08:10

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ChainCatcher news, QCP Capital stated in its latest market analysis that cryptocurrency prices have undergone significant adjustments today, with front-end volatility soaring. The market reacted to the upcoming BTC supply news (including the transfers from Mt. Gox and the German government). Speculators may have oversold in anticipation, triggering liquidations around $58,000.

QCP Capital's view: Spot prices have stabilized, indicating solid support around $54k. As BTC front-end volatility dropped sharply from 65 to below 50, and ETH front-end volatility decreased from 80 to 62, panic sentiment has gradually eased. Today's U.S. employment data showed downward revisions for April and May. This confirms Powell's deflationary path and the possibility of an earlier rate cut, with increased probabilities for rate cuts in September and December.

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