QCP Capital: US-China Trade Talks, Tech Earnings, And Government Shutdown Expected To Influence Near-Term Crypto Trends
In Brief
Crypto markets have stabilized but are expected to remain range-bound as investors await outcomes from the Trump-Xi trade meeting, major tech earnings, and the ongoing US government shutdown.
Singapore-based digital asset firm QCP Capital released a recent market report highlighting that cryptocurrency markets stabilized following constructive US–China trade discussions over the weekend. The framework established by these talks sets the stage for the upcoming meeting between Donald Trump and Xi Jinping on Thursday, where a potential trade agreement could be finalized.
The outcome of this meeting is expected to influence the near-term trajectory of cryptocurrencies more than the Federal Reserve’s rate decision scheduled for Wednesday. However, the Federal Reserve’s primary focus remains on the possible conclusion of its three-year quantitative tightening program, with any indication of an earlier end likely to support risk assets and recalibrate liquidity expectations.
At present, Bitcoin remains largely flat for the month, trading near early October levels. Market participants are closely watching an upcoming series of major tech earnings from Microsoft, Amazon, Apple, Google, and Meta, seeking guidance amid the limited data caused by the ongoing US government shutdown. Weak equity performance could dampen sentiment and potentially hinder Bitcoin’s attempt to extend its so-called “Uptober” seven-year positive streak.
Domestically, optimism is waning as the government shutdown enters its 26th day, making it the second-longest in US history, following the 34-day shutdown in 2018. With macroeconomic data largely unavailable, the Federal Reserve is navigating uncertainty, and markets are similarly constrained. While rate cuts are currently priced in, the prolonged shutdown’s full impact remains underappreciated.
Options markets indicate that BTC and ETH risk reversals have shifted from a pronounced put skew to near-neutral levels, suggesting investors are adopting a less defensive stance. Nevertheless, it is premature to signal a return to a bullish trend until BTC reclaims $116,000 and closes the month above that level. With multiple macroeconomic catalysts in play, cryptocurrencies are likely to remain range-bound as the market awaits clarity on upcoming events.
Analysts Highlight Potential For Near-Term Upside
Market participants have noted the potential for new highs, with weekly closes often accompanied by increased volatility.
Trader Crypto Caesar highlighted that Bitcoin was retesting the $112,000 resistance level, suggesting that a decisive break and close above this threshold could indicate a bullish continuation toward $123,000.
Cryptocurrency investor and entrepreneur Ted Pillows shared a similar outlook, observing a short-term uptrend marked by four consecutive green daily candles, which he interpreted as consistent accumulation of Bitcoin. He identified the $112,000–$114,000 range as a key zone, noting that reclaiming it could drive BTC above $118,000 in the near term.
At the time of writing, Bitcoin is trading at $115,299, reflecting a 2.63% increase over the past 24 hours, with an intraday high of $116,035 and a low of $111,741, according to CoinMarketCap.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
