The Singaporean cryptocurrency investment firm QCP Capital published an analysis stating that Bitcoin has stabilized after a slight rebound. This recovery seems related to improved risk sentiment rather than specific drivers in the cryptocurrency sector. Meanwhile, the stock market has risen slightly, and the market currently expects an 85% probability of a rate cut in December. Inflation remains stubbornly high, and labor market data continues to show weakness, including a rise in the unemployment rate. Fed officials' statements have slightly tilted the balance towards a more accommodative stance. Given that there are fewer other important economic data releases this week, the market will turn its attention to the unemployment claims and ADP employment report scheduled to be released later this week.
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The Singaporean cryptocurrency investment firm QCP Capital published an analysis stating that Bitcoin has stabilized after a slight rebound. This recovery seems related to improved risk sentiment rather than specific drivers in the cryptocurrency sector. Meanwhile, the stock market has risen slightly, and the market currently expects an 85% probability of a rate cut in December. Inflation remains stubbornly high, and labor market data continues to show weakness, including a rise in the unemployment rate. Fed officials' statements have slightly tilted the balance towards a more accommodative stance. Given that there are fewer other important economic data releases this week, the market will turn its attention to the unemployment claims and ADP employment report scheduled to be released later this week.