QCP Capital: Expects Bitcoin volatility to remain at a high level

2024-09-05 14:42:54

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ChainCatcher news, QCP Capital stated in an official channel that the U.S. JOLTs job openings data has dropped to the lowest level since January 2021, while layoffs have risen to the highest point since March 2023. The market reaction is that there is a 50% chance of the Federal Reserve cutting interest rates by 50 basis points in September.

BTC rose to over $58,500 during U.S. trading hours, and ETH approached $2,500, but during Asian trading hours, the prices fell back to $57,000 and $2,400, respectively. The overnight BTC spot ETF outflow was the lowest in the past 6 trading days (-$37.5 million).

This week, front-end volatility remains high, with BTC volatility rising 6% from this week's low. Given yesterday's VMI signal, we expect volatility to remain at elevated levels.

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