QCP Capital stated that BTC spot ETF has seen continuous outflows for four days, especially IBIT by BlackRock experiencing outflows of 13.50 million USD for the first time since May. US PCE data falling below expectations increases the possibility of a rate cut by the Federal Reserve in the fourth quarter. If next week's non-farm payroll data is weaker than expected, it will confirm the reason for the US rate cut since September, with the current probabilities being 33.0% (25 basis points) and 67% (50 basis points). Given the limited impact of recent macroeconomic news on the crypto market, Bitcoin may continue to fluctuate in the range of 58,000 to 65,000 USD in the short term, as the market awaits positive catalysts to break out of this range.

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QCP Capital stated that BTC spot ETF has seen continuous outflows for four days, especially IBIT from BlackRock experienced outflows of 13.50 million USD for the first time since May. The US PCE data came in lower than expected, increasing the possibility of a rate cut by the Federal Reserve in the fourth quarter. If next week's non-farm payroll data is weaker than expected, it will confirm the reasons for the US rate cut since September, with the current probabilities of a rate cut at 33.0% (25 basis points) and 67% (50 basis points). Given the limited impact of recent macroeconomic news on the crypto market, Bitcoin may continue to fluctuate within the range of 58,000 to 65,000 USD in the short term, as the market awaits positive catalysts to break out of this range.

QCP Capital: Bitcoin may continue to fluctuate within the range of $58,000 to $65,000 in the short term.