Odaily星球日报讯 据 QCP Capital 最新报告，日本股市今日回升至崩盘前水平。然而，投资者在本周美国 CPI 数据公布前仍需保持谨慎态度。市场将关注通胀数据，以判断美联储在 9 月是降息 50 个基点还是 25 个基点，目前概率均等。此外，ETH 现货 ETF 的累计流入量在昨日净流入后已超过 9.01 亿美元。值得注意的是，Grayscale 首次实现零流出，这为 ETH 价格提供了强有力的支撑，并可能成为 ETH 更强劲复苏的催化剂。

QCP Capital：日本股市回升至崩盘前水平

Odaily Odaily News According to the latest report from QCP Capital, the Japanese stock market rebounded to pre-crash levels today. However, investors still need to remain cautious before the release of US CPI data this week. The market will focus on inflation data to determine whether the Fed will cut interest rates by 50 basis points or 25 basis points in September, and the probability is currently equal. In addition, the cumulative inflow of ETH spot ETF has exceeded US$901 million after yesterday&#39;s net inflow. It is worth noting that Grayscale has achieved zero outflows for the first time, which provides strong support for ETH prices and may become a catalyst for a stronger recovery in ETH.

QCP Capital: The Japanese stock market has rebounded to the pre-crash level.

PANews reported on August 12 that QCP Capital pointed out that although it has been a week since the market experienced a significant decline, and the price recovery momentum is strong, BTC is still struggling to maintain above $60,000. The BTC put option skew has recovered significantly from the -25% panic level to the -5% pre-washout level, but the market remains cautious in the short term, and the BTC put option skew will continue until September. Due to the continued positive capital inflow into BlackRock this week, it is expected that US investors will continue to provide liquidity and support. Macroeconomic factors are still crucial for the cryptocurrency market. Although Asian stock markets were supported today, some potential volatility events need to be noted, such as Musk's and Trump's interviews, and the US CPI data on Wednesday.

QCP Capital: The BTC put option skew has recovered from the -25% panic level to the -5% pre-washout level.

Last week, the international market experienced an extremely turbulent week, with the global financial market experiencing violent fluctuations driven by the unwinding of the yen carry trade. The Nikkei index fell sharply by 12.4% on Monday, the S&P 500 index also fell by more than 4% at one point, and Bitcoin even plummeted 18%, falling to a low of $49,000. The major European indices also fell collectively.

With the release of a series of positive news, market sentiment has gradually recovered. Concerns about a US economic recession have eased, the Bank of Japan has taken a more dovish stance, and the unwinding pressure of the yen carry trade has also been alleviated. These factors have collectively driven the market rebound. The...

This week's major economic events: The US CPI and Japan's GDP data will be released.

The Nikkei 225 index has recovered to the level before the more than 12% drop on August 5. As of 10 a.m. Tokyo time, the Nikkei 225 index rose 2.7% to 35,961.95 points, with the yen weakening, providing support for exporters such as automakers and technology companies. Technology stocks, including Tokyo Electron, rose after Nvidia boosted the Philadelphia semiconductor index. Ikuo Mitsui, a fund manager at Bluesea Securities, said, "The massive sell-off seen last week has peaked, and investors' attention is shifting to fundamentals such as corporate earnings." "Investors are buying stocks at relatively low valuations," said Ryuta Otsuka, a strategist at Toyo Securities. "The Japanese stock market today is likely to be the calmest in a while. The stability of the yen will also help stabilize the Japanese stock market."