QCP: Cryptocurrency market's short-term gains are limited as the market awaits Trump's next move in trade war

Odaily Planet Daily News QCP posted on its channel: "Trump has intensified tensions by announcing a 25% tariff on auto imports, scheduled to take effect from April 3, while implementing long-expected retaliatory tariffs on the United States' largest trading partner. Any further retaliation from these target economies could inject new uncertainty into the already turbulent global trade environment. Predictably, Japanese and South Korean stock markets generally fell, with auto stocks being the hardest hit in this decline. In the crypto market, sentiment remains subdued despite some eye-catching catalysts. GameStop unexpectedly plans to raise $1.3 billion for Bitcoin allocation, but it has not boosted overall market sentiment. The only bright spot is the continued inflow of funds into the Bitcoin ETF, which has totaled $944.9 million since its expiration on March 14. In contrast, the ETH ETF has seen an outflow of $112.1 million in the same period. This phenomenon demonstrates the divergence of institutional confidence in the market. On-chain developments offer a glimmer of hope for ETH. Looking ahead to tomorrow's option expiration, BTC with a notional value of $12.2 billion Options will expire at the maximum pain point of $85,000. BTC has already started to slide from Monday’s highs, with both BTC and ETH’s front-end volatility falling by 10 pips. Spot trading is flat and open interest continues to decline, indicating a lack of optimism in the market in the near term. PCE data will be released tomorrow, and we believe that upside in the short term remains limited as the market awaits Trump’s next move in this escalating trade war.”