According to Odaily, QCP Capital's latest analysis report indicates heightened macroeconomic volatility. The Nasdaq index has dropped 10% from its peak, driven by several factors contributing to market uncertainty. Firstly, Value at Risk (VaR) shocks are compelling risk management firms to force traders to reduce positions, leading to increased selling and subsequent price drops, which in turn heightens volatility in a feedback loop. Secondly, high stock valuations and ambitious earnings targets are causing participants to reset future forecasts when companies fail to meet expectations. For instance, Microsoft's recent AI cloud revenue fell short of projections, resulting in an 8% drop in its stock price after hours. Thirdly, global risk aversion is evident despite the recent weakness of the US dollar, with AUDUSD and NZDUSD collapsing. Commodities like oil and copper have also declined by 10-15% this month due to growing concerns over a global economic slowdown. Volatility is expected to increase ahead of tonight's FOMC meeting. The Federal Reserve is not anticipated to cut interest rates, and more attention should be paid to the Fed's statement and subsequent remarks by Chairman Powell. The baseline scenario predicts rate cuts in September and December, but any deviation from current expectations could trigger risk-averse behavior across all asset classes, including cryptocurrencies. This situation may suggest that the Fed perceives escalating economic challenges. In the cryptocurrency sector, the market has seen a net inflow of $33.7 million into the ETH spot ETF, providing a much-needed boost to ETH prices, which have lagged behind Bitcoin over the past month. However, outflows are expected to continue over the next two weeks. Additionally, the recent transfer of 30,000 Bitcoins by the US government from the dark web Silk Road has introduced further uncertainty into the cryptocurrency market.