QCP Capital recently released a comprehensive weekly review that emphasizes the strength of the U.S. labor market, as demonstrated by the latest non-farm payroll data. This robust labor market performance, combined with the possibility of additional interest rate cuts later this year, has provided significant support to risk assets, enabling Bitcoin to surge back to the impressive mark of $62,000.
As we enter the fourth quarter of 2024, there is noticeable activity in the options market, characterized by a growing appetite for December call options, a clear reflection of the market's optimistic outlook as we approach the year’s end. The firm expresses a favorable view on October, commonly referred to as 'Uptober,' bolstered by encouraging macroeconomic statistics.
Nevertheless, they issue a cautionary note regarding geopolitical risks that could jeopardize market stability, particularly as we inch closer to the upcoming U.S. presidential election. In preparation for these uncertainties, QCP Capital indicates a preference for securing yields at present levels, in anticipation of a potential rally as the year concludes..