Bitcoin and ether are at a “buy the dip” moment in between post-payrolls data and at least one more interest-rate cut from the U.S., Singapore-based crypto trading firm QCP Capital said in a recent market update.

Last Friday’s non-farm payroll data, a key indicator of U.S. job market, showed a stronger-than-expected monthly gain of 272,000 in May, exceeding the forecast of 185,000. However, this was matched by a rise in the unemployment rate, which ticked up to 4.0% from 3.9%. 

This mixed U.S. economic data triggered a “risk-off” in the market where investors pulled away from riskier assets due to the uncertainty of the numbers ahead of inflation numbers and the next Federal Open Market Committee (FOMC) meeting expected this week, according to QCP. 

“Our desk saw bullish …