On September 5th, QCP Capital published on the official channel that the US JOLTs job vacancy data fell to the lowest level since January 2021, while layoffs rose to the highest since March 2023. The market reaction is that the Federal Reserve is expected to cut interest rates by 50% in September. 50 basis points. BTC rallied above $58,500 and ETH neared $2,500 during the US session, but fell back to $57,000 and $2,400 during the Asian session, respectively. Overnight BTC spot ETF outflows were the lowest in the last 6 sessions (- $37.50 million). Front-end volatility remains high this week, with BTC volatility up 6% from this week's lows. Given yesterday's VMI signal, we expect volatility to remain high.