Cryptocurrency

bullish

Bitcoin

Cryptocurrency analysis firm QCP Capital has released its latest market commentary highlighting key developments for Bitcoin at the start of the new quarter.
The firm pointed to escalating geopolitical tensions and surprising economic data as driving factors behind recent market volatility.
<h2 id="qcp-capital-also-explained-why-bitcoin-jumped-yesterday">QCP Capital Also Explained Why Bitcoin Jumped Yesterday</h2>
The escalation of the Israel-Iran conflict, which coincides with the one-year anniversary of the Gaza war, has brought uncertainty to global risk assets, according to QCP Capital. The firm noted that Iran’s latest strike could prompt critical Israeli retaliation, possibly targeting vital Iranian infrastructure such as nuclear research or oil facilities.
On the economic front, QCP Capital commented on Friday’s nonfarm payrolls report, which showed 254,000 jobs were added in September, significantly beating expectations of 150,000. The U.S. unemployment rate was 4.1%, just below expectations of 4.2%. This strong data, in contrast to last month’s weak performance, underscored the resilience of the U.S. labor market.
This strong labor market, coupled with the potential for further rate cuts later this year, is supporting risk assets, the firm said. Bitcoin in particular staged a brief rally to reclaim $62,000 before pulling back.
Related News: <a href="https://en.bitcoinsistemi.com/il-capo-shares-what-to-expect-after-bitcoins-slight-recovery/" target="_blank" rel="noopener noreferrer nofollow">il Capo Shares What to Expect After Bitcoin's Slight Recovery</a>
QCP Capital also noted increased activity in the options market, particularly for December call options, which have been seen as bullish for the end of the year. Despite Bitcoin falling around 5% from last week’s highs, QCP remains optimistic. They reiterated their view that the “Uptober” trend is still ongoing, supported by positive macroeconomic data.
The firm expects volatility to continue in the fourth quarter but is confident of a strong finish for Bitcoin and other risk assets.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/qcp-capital-shares-expectations-for-bitcoin-in-the-shadow-of-iran-israel-tensions/" rel="noopener noreferrer nofollow">QCP Capital Shares Expectations for Bitcoin in the Shadow of Iran-Israel Tensions</a>

QCP Capital Shares Expectations for Bitcoin in the Shadow of Iran-Israel Tensions

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