The post QCP Capital Says “No Interest Rate Cut Today”, Announces Short-Term Bitcoin and Ethereum Expectations! appeared on BitcoinEthereumNews.com.

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. When Will FED Cut Interest Rates? 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. “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.” 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. Which Direction Will Bitcoin and Ethereum Move? 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…

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Filed under: News - @ August 1, 2024 9:16 am