According to BlockBeats, on September 5, QCP Capital said that the US JOLTs job vacancy data fell to the lowest since January 2021, and layoffs rose to the highest point since March 2023. The market expects that the Federal Reserve has a 50% chance of cutting interest rates by 50 basis points in September.
BTC rose to over $58,500 and ETH near $2,500 during the U.S. trading session, but prices fell back to $57,000 and $2,400 during the Asian trading session. Overnight BTC spot ETF outflows were the lowest in the past 6 trading days (-$37.5 million).
Volatility remained high at the front end of the week, with BTC volatility up 6% from this week’s low. Given yesterday’s VMI signal, volatility is expected to remain elevated.
