QCP Capital: Market panic subsiding, rate cut probability increases in September & December
Cryptocurrency prices adjusted sharply today as front-end volatility spiked, QCP Capital said in its latest market analysis on July 6th. The market reacted to news of upcoming BTC supply, including transfers from Mt. Gox and the German government. Speculators may oversell heavily in anticipation, triggering liquidation around $58,000.
QCP Capital's view: Spot prices have stabilized, indicating good support around 54k. Panic is also subsiding as BTC front-end volatility has fallen sharply from 65 to below 50 and ETH front-end volatility has fallen from 80 to 62. Today's US employment data showed downward revisions for both April and May. This confirms Powell's deflationary path and the likelihood of a possible early rate cut, with the probability of rate cuts increasing in September and December.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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