BlockBeats News, September 7 — QCP Capital released its latest "Market Colour" report stating that the August U.S. employment report came in significantly stronger than expected, with nonfarm payrolls adding 162,000 jobs, far exceeding the market consensus of 55,000 and marking a clear rebound from July's revised figure of 21,000. 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 over an economic slowdown, shifting market focus back to inflation and the Federal Reserve's policy path.

QCP noted that the crypto market remained broadly supported over the past week. BTC briefly broke above $82,000 before retreating to around $79,300, while ETH held near the $2,500 level. From September 1 to 4, U.S. spot BTC ETFs recorded total net inflows of approximately $770 million, with September 3 alone seeing net inflows of $730.8 million, reversing the roughly $236.5 million net outflow seen on September 1.

On market structure, QCP believes the recent price action has been driven more by shifts in the macroeconomic environment than by crypto-specific catalysts. Despite ETF inflows providing structural support, BTC has struggled to decisively break through the $80,000–$82,000 range, while ETH continues to face selling pressure above $2,500, suggesting traders remain cautious ahead of further clarity on inflation data.

This week, market focus will shift to U.S. inflation data. August PPI is scheduled for release on September 10, followed by August CPI and core CPI on September 11. With the latest employment data having reduced concerns over labor market deterioration, CPI will serve as a key variable in assessing expectations for the Fed's September policy move. If CPI continues to cool moderately, it would give the Fed more room to wait and observe; however, if inflation reaccelerates, it could reinforce expectations for policy adjustments and drive further repricing of rate expectations.

Currently, BTC faces technical resistance at $80,000–$82,000 with support at $77,000–$78,000; ETH sees resistance at $2,500–$2,550 with support at $2,400–$2,425. With volatility remaining subdued and key data approaching, the market may be awaiting a new directional move following the release of inflation figures.