According to TechFlow, on October 16, the latest report of QCP Capital, a crypto asset trading company, pointed out that BTC remained above $65,000 and broke through $67,000. Although the US stock market fell due to corporate earnings season, especially the expectation of slowing chip demand caused by the ASML report, which led to a decline in semiconductor stocks such as NVDA and AMD, this did not affect the upward trend of BTC. The report pointed out that as Trump's chances of winning the election increased, the market expected his crypto policy to be more friendly than Harris, and the positive correlation between crypto assets and Trump's victory was further strengthened. QCP expects that as global central banks enter a rate cut cycle, market liquidity will increase, driving risk assets up. The European Central Bank is expected to cut interest rates by 25 basis points tomorrow, the People's Bank of China continues to maintain an accommodative stance, and the Federal Reserve is expected to cut interest rates twice this year and four times in 2025.

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