QCP Capital: Post-Payrolls Price Drop in BTC and ETH is a Good Opportunity to Buy the Dip

According to QCP Capital, the recent drop in the prices of Bitcoin and Ethereum following the US jobs report is a good opportunity to buy the dip. The trading firm believes that the Federal Reserve will struggle to ignore interest rate cuts made by the G7. The US economy added 272,000 jobs in May, which was higher than expected and has led to a decrease in the probability of a Fed rate cut in September, causing risk assets including cryptocurrencies to fall. However, QCP Capital believes that this presents a buying opportunity as the markets will increasingly price in at least one Fed rate cut from here.