Mars Finance reports: On September 7, QCP Capital released its latest Market Colour, noting that the U.S. employment report for August was significantly stronger than expected, with non-farm payrolls rising by 162,000—far exceeding the market forecast of 55,000 and marking a clear rebound from the revised 21,000 increase in July. The unemployment rate held steady at 4.1%, while average hourly earnings rose 0.3% month-over-month. The resilience of the labor market has eased concerns about economic slowdown and shifted market focus back toward inflation and the Fed’s policy trajectory. QCP noted that the crypto market received overall support last week. BTC briefly surged above $82,000 before pulling back to around $79,300; ETH remained near $2,500. From September 1 to 4, U.S. spot BTC ETFs recorded a net inflow of approximately $770 million, with a single-day net inflow of $730.8 million on September 3, reversing the net outflow of about $236.5 million on September 1. In terms of market structure, QCP believes recent price movements have been driven more by macroeconomic developments than by crypto-specific catalysts. Although ETF inflows provide structural support, BTC has struggled to break decisively above the $80,000–$82,000 range, and ETH continues to face selling pressure above $2,500, indicating trader caution ahead of further clarity on inflation data. This week, market attention will turn to U.S. inflation data. The August PPI will be released on September 10, followed by August CPI and core CPI on September 11. With the recent employment data reducing concerns about labor market deterioration, CPI will become a critical variable in assessing expectations for the Fed’s September policy decision. If CPI continues to moderate gently, it will give the Fed more room to wait and observe; if inflation reaccelerates, it could strengthen expectations for policy adjustment and prompt further repricing of rate expectations. Currently, BTC’s key technical resistance lies between $80,000 and $82,000, with support at $77,000–$78,000; ETH’s resistance is at $2,500–$2,550, with support at $2,400–$2,425. With volatility remaining low and key data imminent, the market appears to be awaiting direction following the release of the inflation figures.
QCP: Strong Jobs Data Shifts Focus to Inflation, Bitcoin Awaits CPI Guidance
MarsBitShare
Summary
QCP Capital notes that strong U.S. jobs data for August has refocused attention on inflation figures and Fed policy. Bitcoin briefly rose above $82,000 before pulling back to $79,300, while Ethereum remained near $2,500. Market movements are being driven by macroeconomic trends, not crypto-specific developments. Investors are awaiting the PPI and CPI data releases on September 10 and 11. On-chain data shows mixed short-term sentiment.
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