According to TechFlow, QCP Capital posted on its official channel that the unexpectedly better-than-expected non-farm data and the rise in unemployment rate are enough to trigger risk aversion before the release of US inflation data and FOMC next Wednesday.

Furthermore, the Roaring Kitty livestream attracted nearly a million viewers, during which GME stock price plummeted. It’s probably no coincidence that altcoins and memecoins also began to crash, wiping out more than $40 billion in market value.

QCP Capital saw bullish flows during this decline, including sellers of aggressive put options and buyers of call spreads, especially BTC. BTC and ETH subsequently rebounded from lows of $68,300 and $3,575. QCP Capital said it agreed that this decline was a good opportunity to buy on dips as the market will increasingly digest the impact of at least one rate cut by the Federal Reserve. As the rest of the world continues to cut interest rates, it will be difficult for the United States to ignore this.