According to BlockBeats, QCP Capital stated on August 31 that if next week's non-farm payrolls data falls short of expectations, it could prompt the United States to begin cutting interest rates as early as September. Current market probabilities suggest a 33% chance of a 25-basis-point cut and a 67% chance of a 50-basis-point cut.
Despite the significance of recent macroeconomic news, its impact on the cryptocurrency market has been minimal. QCP Capital expects Bitcoin (BTC) to remain within a range of $58,000 to $65,000 in the short term, as the market awaits a positive catalyst to drive a breakout.
