QCP Capital: The market's reaction to the Mt. Gox sell-off is tepid, and weak CPI data may boost future market trends

ChainCatcher news, according to the latest report from QCP Capital, BTC returned to $60,000 last night and stabilized at this level, completely reversing last Monday's sell-off. Despite Bitgo transferring $2 billion of Mt. Gox BTC last night, BTC still saw a slight increase, indicating that the market is beginning to ignore this supply factor. ETH spot ETFs have attracted inflows for two consecutive days, with a net inflow of $24.3 million on Tuesday.

The weak U.S. Producer Price Index (PPI) data has led the market to expect that the Federal Reserve will cut interest rates by 50 basis points in September, with a probability of 52.5%. Tonight's U.S. Consumer Price Index (CPI) data is highly anticipated; if the data is weak, it may support a rebound in risk assets such as stocks and cryptocurrencies.

In terms of trading advice, although the cryptocurrency market is supported by ETF inflows and BlackRock's buying on dips last week, a significant breakthrough is not expected before the fourth quarter due to the lack of major catalysts.