QCP Capital: As global central banks begin to ease monetary policy, the anticipated increase in liquidity may drive up cryptocurrency prices

ChainCatcher news, QCP Capital has released its latest market analysis report. The report indicates that Bitcoin is currently oscillating in the range of $62,000 to $64,000, while Ethereum's trading price is close to the low of $2,600. Micron Technology (MU) shares surged 16% due to an upward revision of its fourth-quarter revenue expectations, and the market anticipates that chip companies like Nvidia (NVDA) may follow suit, which could serve as a catalyst for Bitcoin to break through $64,000.

Today's key macro events include U.S. GDP data and a speech by Federal Reserve Chairman Jerome Powell. The market will closely monitor Powell's speech for any changes in policy stance following last week's FOMC press conference. U.S. presidential candidate Kamala Harris has reiterated her support for cryptocurrencies, promising to position the U.S. as a leading force in "AI, quantum computing, and blockchain."

QCP Capital believes that as global central banks begin to ease monetary policy, the expected increase in liquidity may drive cryptocurrency prices higher. The company suggests that investors consider going long on long-term options structures with unlimited upside potential to capture potential parabolic price increases.