QCP Asia: The sharp drop in US stocks dragged down market sentiment, BTC briefly fell below $80K but may see a rebound signal

Odaily Planet Daily News QCP Asia March 11 market analysis, the optimism of the US stock market after Trump's victory quickly reversed, the S&P 500 and Nasdaq fell 2.7% and 3.8% respectively, and the "Magnificent 7" technology stocks evaporated $830 billion in a single day, setting a record for the largest single-day drop in history. The market's bearish sentiment has returned across the board, and the volume of US stock put options has risen to the highest level since 2020. Trump showed an indifferent attitude towards the recession in an interview with Fox, saying that the economic downturn may be a necessary process to repair the United States, which further exacerbated market panic. In the crypto market, BTC briefly fell below $80,000, and the market rushed to buy put options for risk aversion. However, there was demand for long-term call options during today's Asian trading session, indicating that some investors may be preparing for a support rebound near $75,000. Despite the pessimistic market sentiment, not all signals point to the downside. The 10-year Treasury yield fell by about 60 basis points, weakening the dollar, which has historically been good for dollar-denominated risk assets, including U.S. stocks and cryptocurrencies. In addition, falling Treasury yields also reduce the burden of government borrowing costs, which is crucial to Trump's expansionary fiscal policy, including potential tax cuts.