BlockBeats message, on October 30, QCP Capital stated in an official post that "Bitcoin's price movement has been remarkable in the past few days, breaking through $73,000. The strong inflow of spot ETFs, a new round of monetary easing by major economies, and the increasing likelihood of a pro-cryptocurrency U.S. presidential candidate Donald Trump winning are all positive catalysts.
As key states like Nevada and Pennsylvania may influence the election outcome, Trump seems to be gaining attention in the polls. The final results of the presidential campaign will be revealed next week.
This week's focus is on Friday's non-farm payroll report, which is a key indicator of the health of the U.S. labor market. The market consensus expects about 110,000 jobs, roughly half of the previous number. As the last major data release before next week's Federal Reserve meeting, this report is expected to lock in the market's bets on the Fed's next move. Currently, the probability of a 25 basis point rate cut in November is 96.5%, and the probability of another 25 basis point cut in December is 75%.
In addition, this week also includes earnings reports from Alphabet, Apple, Meta, Amazon, and Microsoft. The average expected earnings growth for each stock is about 19-20%, but this marks the slowest growth rate in six quarters. Although the impact on the stock market remains uncertain, these releases will be key indicators for monitoring broader market sentiment.