QCP Capital: Bitcoin volatility is expected to remain at a high level

BlockBeats reports that on September 5, QCP Capital announced through its official channel that the number of job vacancies in the U.S. JOLTs has dropped to its lowest level since January 2021, while layoffs have risen to their highest point since March 2023. The market's response is an expected 50% chance that the Federal Reserve will cut interest rates by 50 basis points in September.

During U.S. trading hours, BTC rose above $58,500 and ETH approached $2,500. However, during Asian trading hours, prices fell back to $57,000 and $2,400 respectively. The overnight outflow of BTC spot ETF was at its lowest value over the past six trading days (-$37.5 million).

Front-end volatility remains high this week with BTC volatility rising by 6% from this week's low point. Given yesterday's VMI signal we expect volatility to remain at a higher level.