QCP Capital has expressed the view that if the upcoming non-farm payrolls data is weaker than expected, the possibility that the US will start cutting interest rates from September is quite high, with the probability of a 25 basis point cut being 33% and a 50 basis point cut being 67%.
However, recent macroeconomic information does not seem to have much impact on the cryptocurrency market.
QCP Capital predicts that in the short term, Bitcoin is likely to fluctuate between $58,000 and $65,000, and the market is waiting for a positive catalyst to break this range.
Positive information is given at this stage, but the price is likely to decrease a bit more to the range of 48k-52k so that Sharks can start to collect cheap goods, then they will pump more positive news for individual investors to buy according to the news, then they will gradually sell to take profits.
