Bitcoin Bulls Should 'Stay The Course' Ahead Of Federal Reserve Meeting, Says QCP Capital

Benzinga2024-12-18

QCP Capital has issued a cautious outlook for markets ahead of the Federal Reserve's final meeting of 2024, citing potential volatility amid decreasing liquidity and technical signals for Bitcoin BTC/...

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Reserve Meeting, Says QCP Capital\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-12-18 23:25 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.benzinga.com/markets/cryptocurrency/24/12/42556138/bitcoin-bulls-should-stay-the-course-ahead-of-federal-reserve-meeting-says-qcp-capital><strong>Benzinga</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>QCP Capital has issued a cautious outlook for markets ahead of the Federal Reserve's final meeting of 2024, citing potential volatility amid decreasing liquidity and technical signals for Bitcoin BTC/...</p>\n\n<a href=\"https://www.benzinga.com/markets/cryptocurrency/24/12/42556138/bitcoin-bulls-should-stay-the-course-ahead-of-federal-reserve-meeting-says-qcp-capital\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"BK4601","symbol_name":"加密货币现货ETF","start_time":0,"source_url":"https://www.benzinga.com/markets/cryptocurrency/24/12/42556138/bitcoin-bulls-should-stay-the-course-ahead-of-federal-reserve-meeting-says-qcp-capital","article_id":"2492608133","we_media_id":null,"thumbnails":["https://www.benzinga.com/files/images/story/2024/12/18/jerome-powell-ai7.png"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2492608133","pubTimestamp":1734535529,"columns":[],"sourceInfo":{"source_id":"Benzinga","name":"Benzinga Cypto"},"weMediaInfo":null,"summary":"QCP Capital has issued a cautious outlook for markets ahead of the Federal Reserve&#39;s final meeting of 2024, citing potential volatility amid decreasing liquidity and technical signals for Bit","collect":0,"end_time":0,"defaultTopTitle":"benzinga.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BK4601":"加密货币现货ETF","BK4213":"石油与天然气的勘探与生产","SBR":"Sabine Royalty Trust UBI","BK4585":"ETF&股票定投概念","BK4594":"比特币ETF概念","BK4588":"碎股"},"translate_title":"QCP Capital表示，比特币多头应该在美联储会议之前“坚持到底”","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"SBR":1},"content_text":"QCP Capital has issued a cautious outlook for markets ahead of the Federal Reserve's final meeting of 2024, citing potential volatility amid decreasing liquidity and technical signals for Bitcoin BTC/USD.\nThe firm also noted growing optimism for crypto in 2025, fueled in part by speculation surrounding Donald Trump's return to office and emerging Bitcoin-related policy proposals, such as a draft Executive Order for a strategic Bitcoin reserve.\nWhat Happened: In its market note on Wednesday, QCP Capital stated that the Fed is widely expected to announce a 25 basis point rate cut during its December meeting while maintaining a hawkish stance.\nThe firm anticipates the Fed's final dot plot for the year will signal three rate cuts in 2025 but cautioned that the central bank will remain \"non-committal\" regarding the pace of cuts next year.\n\"We anticipate tonight’s statement and dot plot to carry a slightly hawkish tone, reflecting US inflation stabilizing above the Fed’s 2% target and a robust labor market,\" QCP Capital wrote. \nThe firm also warned that thinning liquidity across global markets could amplify price swings, potentially triggering large-scale liquidations.\nFrom a technical standpoint, QCP Capital highlighted Bitcoin's precarious position, pointing to an \"evening star\" pattern on the daily chart and bearish divergences as signs of caution. \nAlso Read: FTX Reorganization Plan Set For January 3, Distributions To Commence Within 60 Days\nWhy It Matters: The firm advised against panic, urging traders to \"stay the course\" despite short-term price drops.\n\"With 2025 poised to be a potentially bullish year for crypto, particularly with Trump in office, staying the course may prove beneficial,\" QCP Capital added.\nThe bullish sentiment for next year aligns with emerging narratives about Bitcoin's role in future U.S. economic policy.\nThe Bitcoin Policy Institute has reportedly drafted a proposed Executive Order, which would establish a strategic Bitcoin reserve (SBR) under Trump's administration.\nThe draft outlines plans to consolidate Bitcoin holdings across U.S. federal agencies and position Bitcoin as a key strategic reserve asset, enhancing financial security and fostering economic leadership.\nThe draft policy emphasizes Bitcoin's decentralized nature and potential as a \"digital gold,\" with the proposed SBR managed by the U.S. Treasury Department's Exchange Stabilization Fund (ESF). \nAs stated in the document, the initiative aims to \"cement American financial dominance long into the future\" and expand the diversity of U.S. reserve assets.\nRead Next: \n\nAI Cryptocurrencies Surge 208% To $61.5 Billion Market Cap In 2024: These Were The Top Performers\n\nImage created using artificial intelligence with Midjourney.  Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. 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