Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesEarnWeb3SquareMore
Trade
Spot
Buy and sell crypto with ease
Margin
Amplify your capital and maximize fund efficiency
Onchain
Going Onchain, without going Onchain!
Convert
Zero fees, no slippage
Explore
Launchhub
Gain the edge early and start winning
Copy
Copy elite trader with one click
Bots
Simple, fast, and reliable AI trading bot
Trade
USDT-M Futures
Futures settled in USDT
USDC-M Futures
Futures settled in USDC
Coin-M Futures
Futures settled in cryptocurrencies
Explore
Futures guide
A beginner-to-advanced journey in futures trading
Futures promotions
Generous rewards await
Overview
A variety of products to grow your assets
Simple Earn
Deposit and withdraw anytime to earn flexible returns with zero risk
On-chain Earn
Earn profits daily without risking principal
Structured Earn
Robust financial innovation to navigate market swings
VIP and Wealth Management
Premium services for smart wealth management
Loans
Flexible borrowing with high fund security
QCP Capital: Non-farm payrolls exceeding expectations triggered risk aversion in the market, and this decline is a good opportunity to buy on dips

QCP Capital: Non-farm payrolls exceeding expectations triggered risk aversion in the market, and this decline is a good opportunity to buy on dips

CointimeCointime2024/06/08 01:47
By:Cointime

QCP Capital posted on their official channel that the unexpected and above-forecast non-farm data and rise in unemployment rate are enough to trigger a risk-off sentiment before the release of US inflation data and FOMC next Wednesday. Additionally, Roaring Kitty's live stream attracted nearly a million viewers, during which GME stock prices plummeted. Shanzhai coins and Memecoins also began to collapse, with a market value evaporating over $40 billion, which may not be a coincidence. QCP Capital saw bullish fund flows in this downturn, including sellers of aggressive put options and buyers of bullish spreads, especially in BTC. BTC and ETH subsequently rebounded from lows of $68,300 and $3,575, respectively. QCP Capital stated that they agree that this downturn is a good buying opportunity, as the market will increasingly digest the impact of Fed's at least one rate cut. As other countries around the world continue to cut rates, the US will find it difficult to ignore this.

0

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.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!