QCP Capital analysis believes that cryptocurrencies may follow the recovery of the US stock market and that market weakness is temporary. Macroeconomic factors are the main drivers of risk asset prices. The ADP employment report exceeded expectations and the non-farm payrolls report will confirm the strength of the US labor market. The combination of rate cuts and labor strength is expected to boost risk assets. Although tensions in the Middle East have affected Bitcoin, the rebound trend of "October Rise" is expected to prevail.
