QCP Capital says bitcoin all-time high could follow upcoming jobless claims and CPI | Headlines | News | CoinMarketCap
06/06/2024 20:01
Today’s U.S. jobless claims report and next week's CPI release could be the catalysts for new bitcoin all-time highs, according to analysts at crypto …
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Published on June 06, 2024 12:34 GMT+00:00edited on June 06, 2024 12:39 GMT+00:00
Today’s U.S. jobless claims report and next week's CPI release could be the catalysts for new bitcoin all-time highs, according to analysts at crypto asset trading firm QCP Capital.
“A lower than expected jobless claims report tonight and the CPI release next week might potentially be the trigger for a new all time high for BTC,” the analysts wrote Thursday — also noting substantial spot Bitcoin ETF inflows of $488.1 million on Wednesday and call buying.
QCP also suggested momentum may be added to such a rally as the market prices in potential rate cuts. The Bank of Canada became the first major central bank to cut interest rates this year on Wednesday, reducing them a quarter-point to 4.75%. The European Central Bank is expected to follow suit later today, cutting rates by the same …