QCP Capital's latest analysis pointed out that due to the US employment data exceeding expectations, Bitcoin pulled back to the $95,000 support level. JOLTS job vacancies surged to 8.10 million, exceeding 7.74 million expectations. The unexpected strength of the labor market triggered risk aversion, and the rise in long-term bond yields led to a sell-off in risky assets.
Bitcoin ETF inflows plummeted from $987 million to $52.90 million, a 94% drop. BlackRock IBIT recorded significant inflows of $596 million, while ARK and 21Shares ARKB saw outflows of $213 million.
QCP Capital believes that this week's FOMC meeting and non-farm payrolls data will further affect bitcoin's trend. The market expects Trump's inauguration to boost optimism, and the current pullback is only a short-term correction, setting the stage for the next bull market rally.
QCP Capital: Market expectations that Trump's inauguration will boost optimism, the current correction is only a short-term correction
2025-01-08 10:26:46
Qcp capital latest analysis pointed out influenced by the United States employment datadesk3cryptocurrencydesktopCrypto News
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