QCP Capital: Market panic is gradually subsiding, the probability of interest rate cuts in September and December is increasing

In its latest market analysis, QCP Capital stated that cryptocurrency prices have significantly adjusted today, with front-end volatility soaring. The market has reacted to news of the upcoming BTC supply (including transfers from Mt. Gox and the German government). Speculators may oversell in large quantities due to expectations, triggering liquidation around $58,000.

QCP Capital's view: Spot prices have stabilized, indicating decent support around 54k. As BTC front-end volatility drops sharply from 65 to below 50 and ETH front-end volatility drops from 80 to 62, panic sentiment is gradually subsiding. Today's U.S employment data shows downward revisions for both April and May figures. This confirms Powell's inflation path and the possibility of early interest rate cuts; probabilities for rate cuts in September and December are increasing.