QCP Capital: if next week's non-farm payrolls data is weaker than expected, the case for a rate cut becomes stronger

In a post on its official channel, QCP Capital said that a weaker-than-expected non-farm payrolls data next week would confirm the case for a U.S. interest rate cut since September, with the probability of a cut currently standing at 33.0% (25 bps) and 67% (50 bps).

Given that recent macro news has had little impact on the cryptocurrency market, QCP Capital believes that BTC is likely to remain range-bound between $58,000 and $65,000 in the short term as the market waits for a positive catalyst to break out of this range.