According to TechFlow, on August 6, QCP Capital's latest report pointed out that the United States once again provided much-needed support during the market panic, especially in the crypto market, with strong spot buying on the Coinbase order book. At the end of U.S. trading, BTC rebounded to $56,000 and ETH rebounded to $2,500.
Macro markets rebounded significantly, with Japanese stocks up 9% and U.S. futures also pointing to a potential rebound as ISM data showed expansion in the services sector. Although the VIX has retreated from 65, it remains above 30 and markets will continue to be choppy until there is clarity on policy from the Federal Reserve and Bank of Japan.
QCP Capital believes that an emergency rate cut is unlikely, which will undermine the credibility of the Federal Reserve and exacerbate market panic. In terms of trading suggestions, yesterday's risk aversion trend cleared some leverage, and the current stage is suitable for considering accumulating BTC and ETH spot.
