TechFlow news, on August 22, the latest report from QCP Capital indicated that softness in the U.S. labor market has triggered investor concerns over a potential delay in Fed rate cuts, leading to market sell-offs. However, minutes from the July Federal Open Market Committee (FOMC) meeting showed that some policymakers remain open to rate cuts, balancing inflation control with employment goals, which helped ease market worries.
Driven by this positive development, risk assets broadly rose, with Bitcoin briefly surpassing $61,800. Data showed strong buying pressure on Coinbase before 4 a.m. Singapore time on the 22nd, pushing up Bitcoin's price. Analysts noted that active buying on Coinbase typically reflects domestic U.S. demand and is often seen as a reliable short-term indicator.
Markets are now turning attention to Chair Jerome Powell’s upcoming speech at the Jackson Hole Global Central Bank Symposium for further clues on future interest rate policy. QCP Asia reminded investors that, given high market expectations for rate cuts, any unexpected economic data could significantly impact markets. Therefore, they recommend investors consider structured products that offer upside participation while protecting principal.
