QCP： The sentiment in the cryptocurrency market remains sluggish, and the short-term upward potential is limited

BlockBeats News: On March 27th, QCP released a daily market observation stating that "Trump has intensified tensions by announcing a 25% tariff on car imports, planned to take effect from April 3rd, while imposing long-term expected retaliatory tariffs on the United States' largest trading partner. Any further retaliation from these target economies could inject new uncertainty into the already volatile global trade environment. It is foreseeable that the Japanese and South Korean stock markets will generally decline, with car stocks being the hardest hit area of this downturn. In the cryptocurrency market, despite some notable catalytic factors, sentiment remains low. GameStop unexpectedly plans to raise $1.3 billion for Bitcoin allocation, but it has not boosted overall market sentiment. The only highlight is the sustained inflow of funds into the Bitcoin ETF, which has reached a total of $944.9 million since its maturity on March 14th. In contrast, the ETH ETF experienced a capital outflow of $112.1 million during the same period. This phenomenon demonstrates the differentiation of institutional confidence in the market. The development on the chain has brought a glimmer of hope for ETH. Looking ahead to tomorrow's option expiration, BTC options with a nominal value of $12.2 billion will expire at the maximum pain point of $85000. BTC has started to decline from Monday's high point, and the front-end volatility of BTC and ETH has both dropped by 10 volatility points. Spot trading remains flat, while open interest contracts continue to decline, indicating a lack of optimism in the market in the near future. As the PCE index data will be released tomorrow, we believe that the short-term upward space is still limited, and the market will wait for Trump's next move in this escalating trade war