{"id":638875,"date":"2024-08-31T00:30:07","date_gmt":"2024-08-31T00:30:07","guid":{"rendered":"https:\/\/wncen.com\/?p=638875"},"modified":"2024-08-30T17:08:57","modified_gmt":"2024-08-30T17:08:57","slug":"how-will-the-us-upcoming-fed-rate-cut-impact-bitcoin-qcp-analysts-weigh-in","status":"publish","type":"post","link":"https:\/\/wncen.com\/bitcoin-news\/how-will-the-us-upcoming-fed-rate-cut-impact-bitcoin-qcp-analysts-weigh-in\/","title":{"rendered":"How Will The US Upcoming Fed Rate Cut Impact Bitcoin? QCP Analysts Weigh In"},"content":{"rendered":"<p>As the United States Federal rate cut is fast approaching, analysts at QCP Capital, a global digital asset trading firm and market maker has now shared their <a href=\"https:\/\/t.me\/QCPbroadcast\/1307\" target=\"_blank\" rel=\"noopener nofollow\">prediction<\/a> on how this development could impact Bitcoin price.<\/p>\n<p>According to the analysts, the upcoming U.S. non-farm payroll report and Friday\u2019s GDP data will play crucial roles in shaping Bitcoin <a href=\"https:\/\/wncen.com\/bitcoin-news\/bitcoin-open-interest-shorts-be-rekt-this-time\/\" target=\"_blank\" rel=\"noopener \">market sentiment<\/a>.<\/p>\n<p>Notably, these economic indicators are expected to offer greater clarity on whether the Federal Reserve will commence a rate-cutting cycle in its next Federal Open Market Committee (FOMC) meeting on September 18.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/bitcoin-news\/bitcoin-open-interest-shorts-be-rekt-this-time\/\" target=\"_blank\" rel=\"noopener \">Bitcoin Open Interest Is Shooting Up: Will Shorts Be Rekt This Time?<\/a><\/div>\n<h2>Economic Data To Influence Bitcoin&#8217;s Market Movements<\/h2>\n<p>The QCP analysts has revealed that the anticipation of these events has led to cautious positioning among market participants, therefore this signals a potential &#8220;subdued volatility&#8221; for Bitcoin in the near term.<\/p>\n<p>Scheduled for release by September 6, the United States non-farm payrolls report is one the major economic metric that could very well influence the <a href=\"https:\/\/wncen.com\/bitcoin-news\/bullish-bitcoin-news-us-federal-reserve-set-to-implement-three-rate-cuts-this-year\/\" target=\"_blank\" rel=\"noopener \">Federal Reserve&#8217;s interest rate decisions<\/a>.<\/p>\n<p>The previous report earlier this month showed a rise in the <a href=\"https:\/\/www.nbcnews.com\/business\/economy\/jobs-report-july-2024-employment-numbers-analysis-rcna164651\" target=\"_blank\" rel=\"noopener nofollow\">US unemployment rate from 4.1% to 4.3%<\/a>, which triggered a noticeable plunge in the global financial market. Notably, this increase raised concerns that the Fed might be falling behind in its efforts to adjust rates accordingly.<\/p>\n<p>In addition to the payroll data, today&#8217;s upcoming US GDP report could also affect Bitcoin&#8217;s price performance, although QCP Capital analysts believe its impact on the cryptocurrency market may be limited. The analysts noted:<\/p>\n<blockquote><p>Tonight\u2019s US GDP report is likely to be a non-event for crypto, especially if it reinforces the ongoing narrative of a slowing US economy.<\/p><\/blockquote>\n<h2>Bitcoin Market Performance And Price Action Outlook<\/h2>\n<p>Amid these upcoming economic developments, Bitcoin has returned to a bearish trend after briefly <a href=\"https:\/\/wncen.com\/bitcoin-news\/bitcoin-reclaims-61000-key-levels-to-watch-for-continuous-surge\/\" target=\"_blank\" rel=\"noopener \">recovering to over $61,000<\/a> yesterday.<\/p>\n<figure style=\"width: 2770px\" class=\"wp-caption aligncenter\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium\" src=\"https:\/\/www.tradingview.com\/x\/vPgp3JgU\/\" alt=\"Bitcoin (BTC) price chart on TradingView\" width=\"2770\" height=\"1496\"><figcaption class=\"wp-caption-text\">BTC price is moving sideways on the 2-hour chart. Source: BTC\/USDT on <a href=\"https:\/\/www.tradingview.com\/chart\/HSuSIPeM\/?symbol=BINANCE%3ABTCUSDT\" target=\"_blank\" rel=\"noopener nofollow\">TradingView.com<\/a><\/figcaption><\/figure>\n<p>Currently, Bitcoin is trading at $58,285, marking a 4.3% decline in the past 24 hours. This drop has prompted various market analysts to offer their<a href=\"https:\/\/wncen.com\/news\/bitcoin\/bitcoin-must-do-this-now-crypto-analyst\/\" target=\"_blank\" rel=\"noopener \"> updated insights<\/a> on the asset\u2019s short-term prospects.<\/p>\n<p>For instance, Elja Boom, a well-known crypto analyst on X, commented on the ongoing consolidation, <a href=\"https:\/\/x.com\/Eljaboom\/status\/12044880\" target=\"_blank\" rel=\"noopener nofollow\">stating<\/a>:<\/p>\n<blockquote><p>No signs of breakout yet. Consolidation could happen till October before breakout. I\u2019m confident of a breakout in Q4 but before that, there&#8217;ll be some more choppiness.<\/p><\/blockquote>\n<p>Meanwhile, another analyst, known as \u2018Titan of Crypto\u2019 on X, <a href=\"https:\/\/twitter.com\/Washigorira\/status\/96875541?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">provided<\/a> a short-term update, highlighting a key resistance level. The analyst highlighted the $59,600 price mark as a major level for Bitcoin.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/bitcoin\/bitcoin-must-do-this-now-crypto-analyst\/\" target=\"_blank\" rel=\"noopener \">Bitcoin \u2018Must Do This Now\u2019, Says Crypto Analyst<\/a><\/div>\n<p>According to the analyst, should Bitcoin reclaim this price levels and breaks through the cloud twist, &#8220;the clouds would flip from resistance to <a href=\"https:\/\/wncen.com\/analysis\/btc\/bitcoin-price-support-58k-2\/\" target=\"_blank\" rel=\"noopener \">support<\/a>&#8221; and this might just result in a major rally to the upside for Bitcoin.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p dir=\"ltr\" lang=\"en\"><a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">#Bitcoin<\/a> Short Term Update \ud83d\udca5<\/p>\n<p>If <a href=\"https:\/\/twitter.com\/hashtag\/BTC?src=hash&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">#BTC<\/a> reclaims $59,600 and breaks through the cloud twist, the clouds would flip from resistance to support.<\/p>\n<p>This might trigger an upward move. \ud83d\udcc8 <a href=\"https:\/\/t.co\/1XdS3zeBCZ\" target=\"_blank\" rel=\"noopener nofollow\">pic.twitter.com\/1XdS3zeBCZ<\/a><\/p>\n<p>\u2014 Titan of Crypto (@Washigorira) <a href=\"https:\/\/twitter.com\/Washigorira\/status\/96875541?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener nofollow\">August 30, 2024<\/a><\/p><\/blockquote>\n<p>Featured image created with DALL-E, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"<p>As the United States Federal rate cut is fast approaching, analysts at QCP Capital, a global digital asset trading firm and market maker has now shared their prediction on how this development could impact Bitcoin price. According to the analysts, the upcoming U.S. non-farm payroll report and Friday\u2019s GDP data will play crucial roles in shaping Bitcoin market sentiment. Notably, these economic indicators are expected to offer greater clarity on whether the Federal Reserve will commence a rate-cutting cycle in its next Federal Open Market Committee (FOMC) meeting on September 18. Related Reading: Bitcoin Open Interest Is Shooting Up: Will Shorts Be Rekt This Time? Economic Data To Influence Bitcoin&#8217;s Market Movements The QCP analysts has revealed that the anticipation of these events has led to cautious positioning among market participants, therefore this signals a potential &#8220;subdued volatility&#8221; for Bitcoin in the near term. Scheduled for release by September 6, the United States non-farm payrolls report is one the major economic metric that could very well influence the Federal Reserve&#8217;s interest rate decisions. The previous report earlier this month showed a rise in the US unemployment rate from 4.1% to 4.3%, which triggered a noticeable plunge in the global financial market. Notably, this increase raised concerns that the Fed might be falling behind in its efforts to adjust rates accordingly. In addition to the payroll data, today&#8217;s upcoming US GDP report could also affect Bitcoin&#8217;s price performance, although QCP Capital analysts believe its impact on the cryptocurrency market may be limited. The analysts noted: Tonight\u2019s US GDP report is likely to be a non-event for crypto, especially if it reinforces the ongoing narrative of a slowing US economy. Bitcoin Market Performance And Price Action Outlook Amid these upcoming economic developments, Bitcoin has returned to a bearish trend after briefly recovering to over $61,000 yesterday. Currently, Bitcoin is trading at $58,285, marking a 4.3% decline in the past 24 hours. This drop has prompted various market analysts to offer their updated insights on the asset\u2019s short-term prospects. For instance, Elja Boom, a well-known crypto analyst on X, commented on the ongoing consolidation, stating: No signs of breakout yet. Consolidation could happen till October before breakout. I\u2019m confident of a breakout in Q4 but before that, there&#8217;ll be some more choppiness. Meanwhile, another analyst, known as \u2018Titan of Crypto\u2019 on X, provided a short-term update, highlighting a key resistance level. The analyst highlighted the $59,600 price mark as a major level for Bitcoin. Related Reading: Bitcoin \u2018Must Do This Now\u2019, Says Crypto Analyst According to the analyst, should Bitcoin reclaim this price levels and breaks through the cloud twist, &#8220;the clouds would flip from resistance to support&#8221; and this might just result in a major rally to the upside for Bitcoin. #Bitcoin Short Term Update \ud83d\udca5 If #BTC reclaims $59,600 and breaks through the cloud twist, the clouds would flip from resistance to support. This might trigger an upward move. \ud83d\udcc8 pic.twitter.com\/1XdS3zeBCZ \u2014 Titan of Crypto (@Washigorira) August 30, 2024 Featured image created with DALL-E, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":638876,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[88240],"tags":[428,629,680,6848,1119,1122,78790,1946,87662],"class_list":["post-638875","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news","tag-bitcoin","tag-bitcoin-market","tag-bitcoin-price-analysis","tag-bitcoin-price-prediction","tag-btc","tag-btc-price","tag-btcusdt","tag-ethereum","tag-qcp-capital"],"acf":[],"yoast_head":"\n<title>How Will The US Upcoming Fed Rate Cut Impact Bitcoin? QCP Analysts Weigh In<\/title>\n<meta name=\"description\" content=\"As the US Federal rate cut is fast approaching, analysts at QCP Capital has shared prediction on how this development could impact Bitcoin...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wncen.com\/bitcoin-news\/how-will-the-us-upcoming-fed-rate-cut-impact-bitcoin-qcp-analysts-weigh-in\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"How Will The US Upcoming Fed Rate Cut Impact Bitcoin? 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.\",\"sameAs\":[\"https:\/\/x.com\/0xEdyme\"],\"url\":\"https:\/\/wncen.com\/author\/samueledymeabayomi\/\"}]}<\/script>\n","yoast_head_json":{"title":"How Will The US Upcoming Fed Rate Cut Impact Bitcoin? 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A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.","sameAs":["https:\/\/x.com\/0xEdyme"],"url":"https:\/\/wncen.com\/author\/samueledymeabayomi\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"How Will The US Upcoming Fed Rate Cut Impact Bitcoin? 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