QCP Capital: Due to the recent lack of catalysts, cryptocurrency prices in September may continue to fluctuate within a range.

DeepTechFlow reported that QCP Capital, a cryptocurrency trading company, stated in its latest analysis that Nvidia's excellent financial report released last night triggered a typical 'sell-off' reaction in today's cryptocurrency market. As a result, the price of Bitcoin fell to $59,000, while Ethereum traded sluggishly around $2,500. QCP Capital mentioned that the short-term implied volatility briefly increased after the spot price drop but later fell back due to Nvidia's financial report, decreasing from its peak by about 10 percentage points. The risk reversal for Bitcoin and Ethereum remains bearish until October, indicating a cautious stance on downside risks in the market. The company expects market volatility to continue decreasing until the release of the non-farm payroll report next week as the market prepares for a possible Fed rate cut. QCP Capital believes that due to the recent lack of catalysts, cryptocurrency prices in September may continue to fluctuate within a range.