TechFlow news: On August 6, the latest report from QCP Capital indicated that the U.S. has once again provided much-needed support amid market panic, particularly in the crypto market where spot buying on Coinbase's order book remained strong. By the end of U.S. trading hours, BTC recovered to $56,000 and ETH rebounded to $2,500.
Macro markets saw a notable rebound, with Japanese equities rising 9% and U.S. futures signaling potential recovery as ISM data showed expansion in the services sector. Although the VIX retreated from 65, it remains above 30, suggesting continued market volatility until monetary policy direction becomes clearer from the Federal Reserve and the Bank of Japan.
QCP Capital believes emergency rate cuts are unlikely, as such moves would undermine the Fed's credibility and intensify market panic. In terms of trading strategy, yesterday’s risk-off trend cleared some leverage, making the current phase suitable for considering accumulation of BTC and ETH spot holdings.
