QCP Capital: Market volatility intensifies, macroeconomic data impact will be magnified

QCP Capital announced on its official channel that after breaking through the $61,000 mark last weekend, cryptocurrency fell following Trump's second assassination attempt. Prior to the Asian market opening, nearly $70 million in short positions were liquidated due to insufficient liquidity, exacerbating this decline. Notably, Bitcoin rose 13.8% from $58,000 to $66,000 during the same week of Trump's first failed assassination attempt on July 13.

TOKEN2049 is underway and the FOMC meeting will be held on Wednesday (September 18), with uncertainty still surrounding whether interest rates will be cut by 25 or 50 basis points. As we approach the Fed's first rate cut in this round, market tensions are escalating and any unexpected macroeconomic data could have an amplified impact. The possibility of a 50-basis point rate cut has jumped from 30% last Monday to 59%. This is reflected in increasing volatility; implied volatility for Bitcoin increased by eight last Friday while Ethereum increased by twenty.