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QCP Capital says its trading desk saw 'bullish flows' during bitcoin price dip

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Mixed U.S. numbers ahead of inflation data and FOMC meeting caused a good 'buy opportunity' for bitcoin and ether, QCP said.

Bitcoin and ether are at a “buy the dip” moment in between post-payrolls data and at least one more interest-rate cut from the U.S., Singapore-based crypto trading firm QCP Capital said in a recent market update.

This mixed U.S. economic data triggered a “risk-off” in the market where investors pulled away from riskier assets due to the uncertainty of the numbers ahead of inflation numbers and the next Federal Open Market Committee meeting expected this week, according to QCP.

 

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