According to PANews, QCP Capital released a weekly review highlighting the robust U.S. labor market, as reflected in the non-farm payroll data. This strength, coupled with the potential for further interest rate cuts later this year, has bolstered risk assets, allowing Bitcoin to reclaim the $62,000 mark. As the calendar moves into the fourth quarter of 2024, activity in the options market continues to grow, with increasing demand for December call options, underscoring the market's bullish outlook for the end of the year.
QCP Capital maintains a positive stance on October, often referred to as 'Uptober,' supported by favorable macroeconomic data. However, they caution that geopolitical risks, particularly in the lead-up to the U.S. presidential election, pose the greatest threat. In light of these risks, QCP Capital prefers to lock in yields at current levels to prepare for a potential year-end rally.
