QCP Capital: BTC Enters Non-Farm Payroll Data Window

QCP Capital's market report notes that following Fed Chair Warsh's Jackson Hole speech, September rate hike expectations spiked to 70% before cooling to 45–50% amid weak ADP employment data. BTC saw a 2.5% daily decline and ETF outflows of $202 million, but recovered as the DXY fell below 99.5. The Treasury will launch long-end liquidity support operations on September 9 with a $4 billion purchase cap. Market focus remains on inflation data, with PCE at 3.7% and CPI at 3.4%, alongside rising oil prices due to geopolitical tensions.