QCP Capital maintains a structurally bullish view on the crypto market, with Bitcoin's price briefly surging to $70,000 and then retracing to $67,300, influenced by the US Consumer Price Index (CPI) data. The US stock market also hit new highs. Market forecasts suggest two rate cuts in 2024, possibly in September and December. QCP Capital's optimistic outlook also includes expectations for the approval of an Ethereum ETF's S-1.

Odaily Planet Daily News: QCP Capital stated that the Consumer Price Index (CPI) data released by the United States last night triggered a surge in risk assets. The U.S. stock market hit a new high, while Bitcoin briefly soared to $70,000 but fell back to $67,300 this morning. Market forecasts two rate cuts in 2024. Interest rate futures indicate a 56% probability of a rate cut in September and a second cut possibly in December. For the remainder of this year, QCP Capital maintains a structurally bullish view, primarily based on institutional expectations of the approval of an Ethereum ETF's S-1 and potential rate cuts in September and year-end.

QCP Capital maintains a bullish view on the crypto market, Bitcoin price fluctuates