Odaily reports that QCP Capital has posted on its official channel that the global market is digesting the impact of the adjustment of the Fed's rate cut expectations. The 10-year US Treasury yield has soared to 4.8%, the highest since the end of 2023, and the market expects that the rate cut will not happen until at least before October. Stock index futures opened down 1.5%, causing Bitcoin to briefly fall below $90,000 before rebounding to above $95,000. QCP Capital expects that the upcoming PPI and CPI data may show upside risks. The market is adapting to the reality of a prolonged high-interest rate environment, and some investors are even considering the possibility of rate hikes. The Bitcoin options market shows a cautious sentiment, with investors rolling over put options below the $90,000 support level, and near-term volatility and butterfly spreads remain at high levels, with the VIX index staying at 18.68, suggesting that market volatility may continue in January. The report points out that Trump may sign an executive order on his first day in office to address the "de-banking" issue and abolish the controversial cryptocurrency accounting policy, which could bring positive catalysts to the market.