PANews August 6 news, Singapore crypto investment institution QCP Capital issued a statement saying that the United States once again came to the rescue overnight, providing much-needed support and liquidity to the panic market. This is particularly evident in the cryptocurrency field, with strong spot buying on Coinbase's order book. At the end of the US trading session, Bitcoin rebounded to $56,000 and Ethereum rebounded to $2,500. The macro market rebounded strongly today, and Japanese stocks rose 9% today after falling 12% yesterday. In addition, US futures also indicate a possible rebound as US ISM data showed that the service industry expanded in July. "Is it back to normal?" It's too early to say this now. Although the VIX index has fallen from yesterday's peak of more than 65, it still remains above 30. Before the policies of the Federal Reserve and the Bank of Japan become clear, asset prices may continue to fluctuate and the market will remain turbulent. Shinichi Uchida, Deputy Governor of the Bank of Japan, is expected to deliver an important speech on Wednesday, and the Federal Reserve will also hold the Jackson Hole meeting from August 22 to 24. Talk of an emergency rate cut⊠We think this is unlikely as it would severely damage the Fedâs credibility, exacerbate market panic, and fuel belief in an impending recession. Yesterdayâs risk-off sell-off cleared a fair bit of leverage. With prices plunging, now may be the time to start thinking about accumulating spot Bitcoin and Ethereum.
