New Selling Pressure in Bitcoin and Ethereum Comes from US Data!

Cryptocurrency analysis firm QCP Capital has published a market report for August 15.

QCP Capital shared a cryptocurrency market report on Telegram on August 15. The report stated that the market remained silent against the Ethereum ETF launch.

Stating that investors prefer to watch from afar to see whether the launch will turn into a news sell-off, QCP predicted that the market trend may change soon.

The spot Bitcoin ETF comparison in the report was one of the most striking points:

The eagerly awaited US CPI data came in line with expectations. The market is currently pricing a 25 basis point discount as 62.5%; the rate before the CPI announcement was 47.5%.

The softer CPI figures caused an immediate reaction in stocks and crypto.

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