QCP Capital posted on its official channel that global markets are digesting the impact of the Fed's adjustment in its rate cut expectations. The 10-year Treasury yield soared to 4.8%, the highest since the end of 2023, and the market expects no rate cuts until 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 rate hikes. The Bitcoin options market showed cautious sentiment, with investors rolling over put options below the $90,000 support level, near-month volatility and butterfly spreads remained high, and the VIX index remained at 18.68, indicating that market volatility may continue in January.
The report 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.