According to ChainCatcher, QCP Capital's latest analysis pointed out that the global market is digesting the impact of the Fed's adjustment of interest rate cut expectations. The 10-year U.S. Treasury yield soared to 4.8%, the highest since the end of 2023, and the market expects no interest rate cut before October at the earliest. Stock index futures opened down 1.5%, causing Bitcoin to fall below $90,000 at one point, and then rebounded to above $95,000.
QCP Capital expects that the upcoming PPI and CPI data may have upside risks. The market is adapting to the reality of a continued high interest rate environment, and some investors are even considering the possibility of a rate hike. The Bitcoin options market shows a cautious sentiment, with investors rolling over put options below the $90,000 support level. Near-month volatility and butterfly spreads remain high, and the VIX index remains at 18.68, indicating that market volatility may continue in January.
The report also pointed out that Trump may sign an executive order on his first day in office to address the "de-banking" issue and abolish controversial cryptocurrency accounting policies, which may bring positive catalysts to the market.