TechFlow news — On July 31, a new report from QCP Capital indicates that macro volatility has significantly increased, with the Nasdaq Index down 10% from its peak and a pullback observed in the Magnificent Seven tech stocks. Volatility is expected to rise ahead of tonight's Federal Open Market Committee (FOMC) meeting.
QCP Capital anticipates no rate cut this time and will focus more on the statement and Chair Powell’s press conference. The baseline expectation remains one rate cut each in September and December. However, any deviation from this outlook would trigger risk-off behavior across all asset classes, including cryptocurrencies, potentially signaling that the Fed sees heightened economic challenges.
Ethereum spot ETFs saw $33.7 million in net inflows, providing much-needed support for ETH price, which has been lagging behind BTC. Nevertheless, QCP Capital expects continued outflows from ETHE over the next two weeks.
