TechFlow news, on October 10, QCP Capital's latest analysis indicated that the Fed's meeting minutes revealed a less dovish stance than expected, coupled with strong employment data from last Friday, increasing the market's probability of a 25 basis point rate hike in November from last week's 67.9% to 83.7%. Tonight's CPI and tomorrow's PPI data will be key risk events this week. Alongside major bank earnings reports (such as JPMorgan Chase and Wells Fargo), these figures will help assess the strength of the U.S. economy against the backdrop of cooling inflation.
Although U.S. equity indices rose last night, with the S&P 500 reaching a new high, the cryptocurrency market did not exhibit similar optimism, possibly impacted by news of Bitcoin from Silk Road and Ethereum from PlusToken being sold off. QCP stated that as long as the critical support level of $60,000 holds, they remain optimistic about a "October rally." QCP advises that given market expectations for future rate cuts, investors may consider locking in profits at current depressed spot levels and preparing for a year-end rebound.
Previous report, yesterday 15,700 ETH linked to the Plustoken scam were transferred, with over 7,000 ETH already sent to exchanges.
