QCP Capital wrote that the Consumer Price Index (CPI) data released by the United States last night drove a wave of risk assets up. U.S. stocks hit new highs, and Bitcoin soared to $70,000 at one point, but fell back to $67,300 this morning. The market predicts that there will be two interest rate cuts in 2024. Interest rate futures indicate a 56% chance of a rate cut in September, while the second rate cut may occur in December. For the rest of the year, QCP Capital holds a structurally bullish view, mainly based on the institutional approval of the S-1 for the Ethereum ETF and expectations of rate cuts that may occur in September and at the end of the year.