QCP: Cryptocurrencies are still closely related to stocks, and the market is highly concerned about recent non-agricultural and CPI data
This article is machine translated
Show original
Odaily Odaily report: QCP Capital posted on its official channel that after Trump announced his crypto reserves, the tariffs he imposed on Canada, Mexico and China, as well as the retaliatory measures taken by Canada and China - all of these have added fuel to the already uncertain crypto market. Bitcoin rose to $94,000 before crashing to $83,000, and is currently stabilizing around $88,000 in volatile trading. Meanwhile, the US Commerce Secretary hinted at partially lowering tariffs, which may be announced after Trump's State of the Union address. As the macroeconomic environment continues to change, cryptocurrencies remain closely tied to stocks, with their price movements reflecting broader economic changes. This Friday marks a historic milestone - the first White House Crypto Summit. However, the market remains cautious as there are no specific executive orders, funding commitments or Congressional support. Investors see this as a high-risk asymmetric event that could drive prices, but could also trigger a major sell-off. The market is now highly focused on the release of key economic data: this Friday's non-farm payroll report and next Wednesday's CPI data. These will play a crucial role in shaping market direction and the macroeconomic outlook.
Source
Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
Like
Add to Favorites
Comments
Share
Relevant content