Summary
- QCP Capital stated that Coinbase's inclusion in the S&P500 index could stimulate gains in the cryptocurrency market.
- QCP noted that Coinbase's index inclusion could provide upward momentum through passive fund inflows.
- They explained that due to the U.S. Consumer Price Index falling short, the rate cut is projected for September.
An analysis has emerged suggesting that the inclusion of cryptocurrency exchange Coinbase in the S&P500 index could drive market gains.
On the 14th (local time), QCP Capital stated via Telegram, "Coinbase is scheduled to be included in the S&P500 index on the 19th (local time)," adding, "This could be a factor for further gains in the cryptocurrency market." They further noted, "Historically, index inclusion has provided upward momentum by promoting passive fund inflows that follow the benchmark."
Meanwhile, they also shared their views on interest rate cuts. QCP mentioned, "The U.S. Consumer Price Index (CPI) fell short of expectations the previous day, leading the market to anticipate the first rate cut in July," but added, "Considering the stance of the U.S. Federal Reserve (Fed), we project the first rate cut to occur in September."
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
