A brand new evaluation from QCP highlights the key affect of U.S. presidential election dynamics on cryptocurrency markets, with Bitcoin pushing towards $69,000 amid rising expectations of a Trump presidency.
The report notes that Trump’s widening lead over opponents in betting markets and key swing states has begun influencing each conventional and crypto market sentiment.
Market metrics sign robust momentum
QCP’s evaluation reveals record-breaking exercise in cryptocurrency derivatives markets, with complete futures open curiosity reaching $40.5 billion throughout exchanges.
This surge coincides with broader market actions, together with the S&P 500’s strategy towards all-time highs and U.S. 2-year Treasury yields breaking above 4%.
The analysis agency factors to a number of key market indicators:
- Rising expectations of 1.5 price cuts in 2024
- Robust labor market efficiency sustaining U.S. progress outlook
- USD strengthening amid discussions of elevated tariffs and tax reductions
- Rising bond yields reflecting market confidence
Wanting forward, QCP identifies the upcoming Nonfarm Payrolls (NFP) report as a important occasion. As the ultimate main employment information earlier than the subsequent Federal Reserve assembly, the report might considerably affect rate of interest expectations and market path.
In response to present market situations, QCP recommends a Principal Protected Sharkfin technique for merchants in search of to seize upside potential whereas sustaining safety towards draw back danger. The agency notes that each Bitcoin and Ethereum keep robust assist ranges heading into these key occasions.
