Ethereum

Cryptocurrency

Rally

Bitcoin

According to analysts at QCP Capital, price volatility in the cryptocurrency market, especially Bitcoin (BTC), is expected to decrease as investors prepare for a possible interest rate cut cycle by the US Federal Reserve.
The firm expects market activity to calm as investors position themselves for possible Fed rate cuts ahead of next week's U.S. nonfarm payrolls report.
“We expect market volatility to continue its downtrend as the market positions for possible Fed rate cuts ahead of next week’s U.S. nonfarm payrolls report,” QCP Capital said.
The upcoming nonfarm payrolls report and Friday’s GDP data are seen as key indicators that could provide more clarity on the likelihood and magnitude of a rate cut at the next Federal Open Market Committee (FOMC) meeting on September 18. These economic data points are expected to play a significant role in shaping market sentiment and the Fed’s interest rate decisions.
Nonfarm payrolls data, due on Friday, September 6, is a key metric that could affect the Fed’s interest rate path. The previous report, released in early August, showed that the U.S. unemployment rate unexpectedly rose from 4.1% to 4.3%, triggering a sell-off in global markets on concerns that the Fed could fall behind in its interest rate-cutting efforts.
Related News: <a href="https://en.bitcoinsistemi.com/analyst-says-bitcoins-decline-will-continue-answers-the-question-what-is-needed-for-the-rally-to-start/" target="_blank" rel="noopener noreferrer nofollow">Analyst Says Bitcoin's Decline Will Continue, Answers the Question "What is Needed for the Rally to Start?"</a>
QCP Capital also pointed out the impact of the US GDP report on Bitcoin’s price performance, but they believe it will have a smaller impact on the cryptocurrency market, especially if it aligns with the prevailing narrative of a slowing US economy. While there are signs of an economic slowdown, the possibility of a recession remains uncertain.
The firm’s analysts noted that derivatives market participants are hedging against potential near-term downside risks for both Bitcoin and Ethereum. “The fact that risk reversals are still on the sell side for both Bitcoin and Ethereum through October suggests that the market is cautious about downside risks,” they added.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/analysis-company-qcp-shares-what-they-expect-in-the-coming-hot-days-in-bitcoin-and-ethereum-price/" rel="noopener noreferrer nofollow">Analysis Company QCP Shares What They Expect in the Coming Hot Days in Bitcoin and Ethereum Price</a>

Analysis Company QCP Shares What They Expect in the Coming Hot Days in Bitcoin and Ethereum Price

Bitcoin Sistemi EN

Other articles published on Aug 30, 2024

Why Is Bitcoin Facing Challenges to Surpass $62K?

P2E Game DIGI Promises Early Gains As ETH And BNB Endure Market Downturn

Analyst Identifies Bitcoin Price Levels Amid Market Decline

Best Upcoming Crypto Presales Ready to Explode: Insider Secrets for 1000x Returns!

Argentina’s Buenos Aires to Launch Ethereum Curriculum for High School Students

Explore Qubetics Exclusive Whitelist—Don’t Miss Out After VET and AR’s Gains

Join our free newsletter for daily crypto updates!