QCP Capital: if next week's non-farm payrolls data is weaker than expected, the case for a rate cut becomes stronger
In a post on its official channel, QCP Capital said that a weaker-than-expected non-farm payrolls data next week would confirm the case for a U.S. interest rate cut since September, with the probability of a cut currently standing at 33.0% (25 bps) and 67% (50 bps).
Given that recent macro news has had little impact on the cryptocurrency market, QCP Capital believes that BTC is likely to remain range-bound between $58,000 and $65,000 in the short term as the market waits for a positive catalyst to break out of this range.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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