QCP Capital: The global trade war is intensifying, and risk asset markets are extremely panicked

Planet Daily News: QCP Capital stated that as the global trade war escalates, the market is falling into turmoil. Although the US stock market had been under heavy pressure last week, Bitcoin was largely unaffected during the weekend. However, this resilience did not last long. During the early Asian trading session, cryptocurrencies plummeted, with Bitcoin breaking below $80,000 and sharply dropping to a low of $74,500. In just the past 24 hours, the liquidation amount for Bitcoin and Ethereum exceeded $800 million. As the market continues to be in a correction zone, the implied volatility of Bitcoin and Ethereum soared to over 85% and 130% respectively on Friday, with the market seeking to hedge downside risks. The panic index (VIX) surged above 60, indicating extreme panic in the risk asset market. With only two days left before the tariff increase measures on April 9th, the global economy is on the edge of a comprehensive economic war. Notably, Trump's "all-out" approach seems to be triggering responses from all parties, with reports suggesting that over 50 countries have actively sought to initiate trade negotiations. However, as countries compete for negotiation seats, market tension is likely to persist. President Trump, showing no signs of compromise, stated that he "does not want the stock market to fall, but sometimes medicine must be taken". If no substantial progress is made before Wednesday, it could be a difficult pill to swallow for US economic confidence and credibility, the global market, and Trump himself.