QCP Capital: A lower CPI could drive the crypto market to break through the current range

2024-07-11 17:56:36

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ChainCatcher news, Singaporean crypto investment firm QCP Capital stated that the CPI data release tonight is attracting market attention, with a 70% probability of a rate cut in September.

The continuous rise in the stock market reflects optimistic sentiment, but the cryptocurrency market has yet to price this in. This morning, Bitcoin's front-end volatility increased by 5 percentage points, with a preference for risk reversal moving upwards, indicating that the market may face upward volatility. Yesterday, the German government transferred 10,000 Bitcoins to an exchange, and that wallet now holds only 15,000, a significant decrease from 50,000 in mid-June, suggesting that supply pressure may ease.

Against this backdrop, lower CPI data could become a catalyst for the market to break out of its current range, coupled with expectations for the launch of Ethereum spot ETFs next week, revealing upward risks and return opportunities for digital assets.

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