QCP Capital: Bitcoin's $54,000 Support Performing Well as Panic Eases

QCP Capital released its market analysis for the 5th of July, noting that the spot price has stabilized, suggesting good support around $54,000, and that panic has eased. Panic has also eased, with front-end volatility dropping significantly from 65 to below 50 (BTC) and ETH volatility dropping from 80 to 62. US employment data showed downside revisions for both April and May. This confirms Powell's deflationary path and could lead to earlier rate cuts, with the expected probability of rate cuts rising in both September and December.