In its latest market analysis, QCP Capital said that cryptocurrency prices corrected sharply today, and front-end volatility soared. The market reacted to the news of the upcoming supply of BTC, including the transfer of Mt. Gox and the German government. Speculators may oversell a lot in anticipation, triggering a liquidation near $58,000.
QCP Capital Opinion: The spot price has stabilized, indicating decent support around 54k. With BTC front-end volatility falling sharply from 65 to below 50 and ETH front-end volatility falling from 80 to 62, the panic has also gradually subsided. Today's US employment data shows downward revisions in both April and May data. This confirms Powell's deflationary path and the possibility of a possible rate cut earlier, with the probability of a rate cut increasing in September and December.
QCP Capital: Market panic gradually subsided, the probability of interest rate cuts increased in September and December
2024-07-05 16:35:02
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