On January 15, QCP Capital's latest analysis pointed out that it is less than a week until the inauguration of the 47th President of the United States, Donald Trump, which is scheduled for January 20.

Inflation concerns continue to plague the US market. The US job market remains strong. As US bond yields rise, US stocks have experienced volatility, with the S&P 500 index briefly threatening to fall below 5,800 points. Bitcoin has also fallen, briefly dropping below $90,000.

Given the recent economic environment, the macroeconomic situation is not very favorable for risk assets. However, Trump's actual policies often differ greatly from his public rhetoric. Inflation concerns may not be as severe as the market expects.

For cryptocurrencies, officials in the Trump administration are relatively friendly towards cryptocurrencies. Rumors of Trump issuing a broad, friendly cryptocurrency executive order have provided support for the market in the short term, which may help prices rise.

It is expected that the market will experience high volatility around Trump's inauguration, as the market needs to digest and adapt to the new Trump administration. We remain cautious about the downside, as the $90,000 support level for Bitcoin has been tested multiple times. US stocks also appear fragile, and the rise in global bond yields may lead to more chaotic and erratic market fluctuations.