Ethereum

bullish

Bitcoin

Silk Road

While Bitcoin failed in my bullish attempts, QCP Capital analyzed BTC and overall crypto trends.
Singapore-based cryptocurrency trading company QCP Capital stated in its latest analysis that macro volatility has increased.
<h2 id="when-will-fed-cut-interest-rates">When Will FED Cut Interest Rates?</h2>
At this point, QCP analysts predicted that volatility would increase ahead of the Federal Open Market Committee (FOMC) meeting.
Analysts stated that they do not expect an interest rate cut from the FED today, in July, and stated that FED Chairman Jerome Powell's statements are important for Bitcoin and the market.
He added that analysts expect the FED to make two interest rate cuts, in September and December.
<blockquote>
 “We expect increased volatility in the market ahead of tonight's FOMC.
 We do not expect a rate cut and we attach more importance to Powell's statement and the press conference he will hold afterwards.
 “Our base scenario is that there will be one interest rate cut in September and December.”
</blockquote>
The general expectation in the market is that the FED will not make a surprise decision in July and will keep interest rates constant.
At this point, while the FED is expected to make its first interest rate cut in September, some experts think that there will be two cuts, including September, and some experts think that there will be a single cut in September.
Related News: <a href="https://en.bitcoinsistemi.com/goldman-sachs-ceo-speaks-about-bitcoin-btc-interest-forecast-updated-will-the-fed-make-a-surprise-tomorrow/" target="_blank" rel="noopener noreferrer nofollow">Goldman Sachs CEO Speaks About Bitcoin (BTC)! Interest Forecast Updated! Will the FED Make a Surprise Tomorrow?</a>
<h2 id="which-direction-will-bitcoin-and-ethereum-move">Which Direction Will Bitcoin and Ethereum Move?</h2>
Stating that there was a net inflow of $33.7 million into Spot ETH ETFs, which increased the price of ETH, QCP said that they expect outflows from Grayscale's ETHE to continue in the next two weeks.
Finally, explaining their expectations for BTC and Etheruem, analysts stated that BTC will continue to be traded within a certain range in the short term, and that they expect ETH to break 4000, the highest level of 2024, as ETHE outflows decrease in the next 2 weeks.
<blockquote>
 “In the crypto space, we eventually saw net inflows of USD 33.7 million in ETH spot ETFs.
 This provided a much-needed boost to ETH prices, which have been lagging behind BTC for the past month. However, we anticipate outflows from Grayscale ETHE will continue in the next 2 weeks.
 The US government's recent move of $2 billion worth of Silk Road BTC has brought uncertainty to the cryptocurrency market.
 At this point, BTC could not exceed 70 thousand dollars for the 6th time. We maintain our view that BTC will continue to trade in a range.
 ETH long positions are preferred because ETHE outflows will decrease in the next 2 weeks and ETH will catch up with BTC. From now on, we aim to break the 4000 peak in 2024.”
</blockquote>
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/qcp-capital-says-no-interest-rate-cut-today-announces-short-term-bitcoin-and-ethereum-expectations/" rel="noopener noreferrer nofollow">QCP Capital Says "No Interest Rate Cut Today", Announces Short-Term Bitcoin and Ethereum Expectations!</a>

QCP Capital Says "No Interest Rate Cut Today", Announces Short-Term Bitcoin and Ethereum Expectations!

Table of Contents

Bitcoin Sistemi EN

Other articles published on Jul 31, 2024

Ex SwissOne Capital Executive, Antony Turner's Master Plan Catapults BlockDAG to New Heights as T...

Crypto exchange Bitvavo adds Nasdaq’s surveillance tool to detect market abuse

No, Bitcoin ETFs Didn't Lose $1.7 Billion in 24 Hours

Interest Rate Decision & FOMC: What’s Next for Bitcoin Price?

Crypto Analyst Tips on Final Opportunity to Invest in $WAI Meme Coin for 100X Gains

NiceHash to Showcase Maribor as Crypto Hub with First Bitcoin-Focused Conference

Join our free newsletter for daily crypto updates!