QCP Capital: Cryptocurrency Market Sees Pickup in Spot Demand, Attention Shifts to Hawkish Rate Repricing Sustainability

BlockBeats News, September 4th. In a post published by QCP Capital, it was stated that a week after the Jackson Hole Symposium, the market's focus has shifted from Fed Chair Powell's speech to whether the hawkish rate repricing can be sustained. Powell emphasized that price stability remains the Fed's primary focus, but soft labor data and recent comments by Waller have brought September policy discussions back to a choice between holding rates steady or hiking.

The U.S. Treasury Department is set to launch its first-ever large-scale long-term bond buybacks on September 9th. Concurrently, the market will see concentrated issuance of 3-year, 10-year, and 30-year Treasuries, with next week's CPI data also under scrutiny.

Turning to the crypto market, spot demand has seen a resurgence. This week, BTC has traded in a range of approximately $76,700 to $81,500, with ETF flows rebounding significantly on Thursday after previous outflows. Current leverage levels remain in check, with market resistance stemming more from spot supply near highs rather than overleveraged long positioning. Tonight's non-farm payroll report will be the next key test.