QCP Capital: Market expectations that Trump's inauguration will boost optimism, the current pullback may be a consolidation for a bullish rebound

2025-01-08 18:19:36

Collection

ChainCatcher news, QCP Capital's latest analysis points out that due to better-than-expected U.S. employment data, Bitcoin has pulled back to the support level of $95,000. JOLTS job openings surged to 8.1 million, exceeding the expected value of 7.74 million. The unexpected strength in the labor market has triggered risk-off sentiment, leading to a sell-off in risk assets as long-term bond yields rise.

Bitcoin ETF inflows plummeted from $987 million to $52.9 million, a decrease of 94%. Among them, BlackRock's IBIT recorded a significant inflow of $596 million, while ARK and 21Shares' ARKB saw an outflow of $213 million.

QCP Capital believes that this week's FOMC meeting and non-farm payroll data will further influence Bitcoin's trend. The market expects that Trump's inauguration will boost optimism, and the current pullback may serve as a buildup for a bullish rebound.

(Source Link)

Related tags

Trump Bitcoin FOMC

ChainCatcher reminds readers to view blockchain rationally, enhance risk awareness, and be cautious of various virtual token issuances and speculations. All content on this site is solely market information or related party opinions, and does not constitute any form of investment advice. If you find sensitive information in the content, please click "Report", and we will handle it promptly.