QCP Capital: Market volatility is expected to continue to decline before the release of the non-farm payrolls report next week, and tonight's US GDP data may have limited impact on the crypto market

BlockBeats news, August 29, QCP Capital's latest report pointed out that Nvidia's earnings last night triggered a classic "Sell The News" reaction, and the crypto market was affected today. Bitcoin prices fell back to $59,000, and Ethereum also performed weakly, hovering around $2,500.

Front-end volatility rose sharply overnight after the spot price fell, but then fell back after Nvidia's earnings report was released, falling about 10 volatility points from the peak. Risk reversals until October still favor put options, indicating that the market remains cautious about downside risks.

Before the release of next week's non-farm payrolls report, we expect market volatility to continue to decline as the market is positioning for a possible rate cut by the Federal Reserve. Tonight's US GDP report may not have a significant impact on the crypto market, especially if it further supports the continued argument of a slowing US economy.