QCP Capital: Market expectations that Trump's inauguration will boost optimism, the current pullback may be a consolidation for a bullish rebound

ChainCatcher news, QCP Capital's latest analysis points out that due to better-than-expected U.S. employment data, Bitcoin has pulled back to the support level of $95,000. JOLTS job openings surged to 8.1 million, exceeding the expected value of 7.74 million. The unexpected strength in the labor market has triggered risk-off sentiment, leading to a sell-off in risk assets as long-term bond yields rise.

Bitcoin ETF inflows plummeted from $987 million to $52.9 million, a decrease of 94%. Among them, BlackRock's IBIT recorded a significant inflow of $596 million, while ARK and 21Shares' ARKB saw an outflow of $213 million.

QCP Capital believes that this week's FOMC meeting and non-farm payroll data will further influence Bitcoin's trend. The market expects that Trump's inauguration will boost optimism, and the current pullback may serve as a buildup for a bullish rebound.