QCP: Long-Term Interest Rate Volatility and ETF Inflows Drive Crypto Market Higher
QCP reported that Bitcoin's rise is linked to declining US long-term Treasury yields and a weakening US dollar, following the US Treasury's announcement to expand the scale of its long-term Treasury liquidity support repurchase agreements starting September 9. Markets will now focus on the US July PCE data on August 26, the Jackson Hole Global Central Bank Symposium from August 27 to 29, and the Federal Reserve's policy meeting on September 15–16. QCP believes that the key factor for the current cryptocurrency market is whether spot demand can sustain itself following initial position adjustments, particularly amid the backdrop of rising leverage.
