TechFlow news: QCP Capital stated in its official channel that the unexpectedly strong non-farm data, coupled with rising unemployment, is sufficient to trigger risk-off sentiment ahead of next Wednesday's U.S. inflation data release and the FOMC announcement.
In addition, Roaring Kitty’s livestream attracted nearly a million viewers, during which GME stock price plummeted. Altcoins and memecoins also began crashing, wiping out over $40 billion in market value—this may not be a coincidence.
QCP Capital observed bullish capital flows during this downturn, including aggressive sellers of put options and buyers of call spreads, especially in BTC. Subsequently, both BTC and ETH rebounded from lows of $68,300 and $3,575 respectively. QCP Capital said it agrees this dip presents a good buying opportunity, as markets will increasingly price in expectations of at least one Fed rate cut. With the rest of the world continuing to ease monetary policy, the U.S. will find it difficult to ignore this trend.
