QCP Capital: If the CPI data meets expectations and the FOMC results are neutral, it may drive the cryptocurrency market to break through its high point

ChainCatcher news, Singaporean crypto investment firm QCP Capital stated that due to traders waiting for the release of CPI data and tonight's FOMC meeting, BTC and ETH spot prices are still fluctuating within a range.

They hold an optimistic attitude towards tonight's events for the following reasons:

BTC futures swap points have rebounded from a low of 10% and rose yesterday. Traders profited by closing short futures positions. As long as there is any catalyst, we can easily see yields being pushed up to levels above 15%.

Today we observed a large amount of buying into June 13th futures contracts, coupled with a significant increase in funding rates. This indicates that the market is preparing for unexpected rises.

Given that the stock market has closed at historical highs for the second time in succession, QCP Capital believes that if CPI data meets expectations and FOMC results are neutral, the cryptocurrency market may test its high point again.