QCP analysts stated in their evaluations today that they expect positive movements for October. In their analyses, analysts who said ‘Uptober seems to be back’ wrote that interest has returned to Bitcoin and cryptocurrencies.

Stating that Friday’s non-farm employment figures were perceived positively by the market, QCP employees used the following statements:

“The Uptober story seems to have been revived with the positive non-farm employment figures in the USA. In this way, Bitcoin found strong support around $60,000. Option transactions also give signs that the fourth quarter will be positive. Of course, the inflation figures to be announced this week will also be important. Interest rate cut expectations from the Fed have dropped from 50 basis points to 25 for the moment… This week’s data will be important in this respect.”

If the inflation data to be announced in the USA on Thursday comes lower than expected, this may be considered positive for cryptocurrencies.

Expectations are that annual inflation, which was announced as 2.5% in August, will come in the form of 2.3% for September…

At its meeting on September 18, the Fed started to cut interest rates for the first time in more than 4 years and announced a 50 basis point cut.