TechFlow reported that on October 10, QCP Capital's latest analysis pointed out that the Fed's meeting minutes showed a less dovish stance than expected, and coupled with last Friday's strong employment data, the market's expectation of a 25 basis point rate hike in November rose from 67.9% last week to 83.7%. Tonight's CPI and tomorrow's PPI data will be key risk events this week. Together with the earnings reports of major banks (such as JPMorgan Chase and Wells Fargo), these data will help assess the strength of the US economy against the backdrop of cooling inflation.
Although US stock indexes rose last night, with the S&P 500 hitting a new high, the cryptocurrency market did not see the same optimism, possibly affected by the news of the Silk Road Bitcoin and PlusToken Ethereum sell-offs. QCP said that as long as the key support level of $60,000 remains intact, it remains optimistic about the "October rally". QCP suggested that given the market's expectation of more rate cuts in the future, investors may consider locking in gains at the current depressed spot level and prepare for a rebound at the end of the year.
According to previous news, 15,700 ETH related to the Plustoken scam were transferred yesterday, and more than 7,000 ETH have been sent to exchanges.
