QCP Capital: Bitcoins $54,000 support performs well, and panic sentiment eases

Odaily News QCP Capital released a market analysis on July 5, which pointed out that the spot price has stabilized, indicating good support around $54,000. Panic sentiment has also eased, with the front-end volatility dropping significantly from 65 to below 50 (BTC), and ETHs volatility dropping from 80 to 62. US employment data showed downward revisions in both April and May. This confirms Powells deflationary path and could lead to earlier rate cuts, with the expected probability of rate cuts in September and December rising.