Core

Bitcoin

BlackRock

Gains

<p style="text-align: justify">You can also read this news on BH NEWS: <a href="https://en.bitcoinhaber.net/traders-anticipate-bitcoin-breakout-soon" data-wpel-link="internal" rel="noopener noreferrer nofollow">Traders Anticipate Bitcoin Breakout Soon</a><br></p>
<p style="text-align: justify"><a href="https://en.bitcoinhaber.net/the-rise-of-gold-and-bitcoin-what-does-it-mean-for-investors" data-wpel-link="internal" rel="noopener noreferrer nofollow">Bitcoin</a> continues to hover without reaching expected highs, yet optimism persists as consolidation occurs at elevated price points. With prices now consistently above $60,000, traders are eagerly watching for a breakout as election day approaches. What insights do market experts at QCP Capital provide?</p>
<h2 style="text-align: justify" id="recent-market-review">Recent Market Review</h2>
<p style="text-align: justify">In a recent market update, QCP Capital noted the release of Core PCE data, which slightly exceeded market expectations. Although the Non-Farm Payroll figures fell short, anticipated adjustments due to recent hurricanes may mitigate their impact on the market.</p>
<blockquote>
 <p style="text-align: justify">“Core PCE data came in at 2.7%, above the expected 2.6%. Meanwhile, Non-Farm Payroll numbers disappointed with just 12,000 new jobs, well below the anticipated 110,000, resulting in the DXY regaining the 104 level.”</p>
 <p style="text-align: justify">Despite the disappointing payroll figures, the unemployment rate held steady at 4.1%, increasing the likelihood of a 25 basis point rate cut in November to 96.4%.</p>
</blockquote>
<p style="text-align: justify">Stock market losses were offset by Amazon’s strong earnings report on Friday. Treasury yields initially fell but climbed back to a four-month high, a typical reaction before elections.</p>
<h2 style="text-align: justify" id="will-investors-see-gains-in-cryptocurrencies">Will Investors See Gains in Cryptocurrencies?</h2>
<p style="text-align: justify">With recent market activities, can cryptocurrencies expect a rise? Notably, $2.1 billion flowed into ETFs this week, with BlackRock garnering $872 million in a single day, signaling strong interest from professional traders.</p>
<p style="text-align: justify">The market remains vibrant; even with Bitcoin dipping below $69,000, both <a href="https://en.bitcoinhaber.net/analyst-predicts-bitcoin-bull-run" data-wpel-link="internal" rel="noopener noreferrer nofollow">BTC</a> futures and options saw considerable open interest at $40.65 billion and $25.3 billion, respectively.</p>
<ul style="text-align: justify">
 <li>Bitcoin’s 7-day implied volatility stands at 74.4%, indicating heightened risk as elections approach.</li>
 <li>Predictions for Trump’s victory have decreased, reflecting ongoing electoral uncertainty.</li>
 <li>A sell-off is expected post-elections, similar to reactions observed at the Nashville Bitcoin conference.</li>
</ul>
<p style="text-align: justify">Market participants remain cautious, with expectations for minimal movement following election results. The intricate relationship between market dynamics and political events continues to shape trader strategies.</p>
<h5><span style="font-weight:bold;font-size:16px">Continue Reading: </span> <a href="https://en.bitcoinhaber.net/traders-anticipate-bitcoin-breakout-soon" data-wpel-link="internal" rel="noopener noreferrer nofollow">Traders Anticipate Bitcoin Breakout Soon</a></h5>

Traders Anticipate Bitcoin Breakout Soon

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