QCP： Macro data has been poor again recently, and the market is waiting for potential catalysts

According to BlockBeats, on April 1st, QCP released today's market analysis, and BTC, ETH, and the S&P 500 index all recorded their worst quarterly performance in three years. Since last Friday, over $160 billion in cryptocurrency market value has been wiped out, signaling a sobering start to the second quarter as the market continues to search for its upward momentum. The significant pullback on Friday was driven by a large number of end of quarter trades, with traders selling heavily on fixed rates, resulting in option funds turning from flat to negative. At the time of deleveraging cryptocurrency, macro data has once again been hit: core inflation data is higher than expected, confirming stronger inflation in February despite continued sluggish consumer spending. The market is now nervously shifting towards the next potential catalyst. Trump's' Liberation Day 'is scheduled for April 2nd, and he has promised to announce a wide range of reciprocal tariffs at that time. As consumer confidence falls to a 12 year low, the stock market has been volatile due to weekly declines of 4 to 5%. Widespread and aggressive policies may exacerbate recession concerns and lead to a spiral decline in risk assets. The volatility index presents a complex situation, with the VIX index remaining at a high of 22, reflecting the continued volatility of the stock market. In contrast, the volatility of cryptocurrencies has not been affected by the sell-off, despite experiencing similar declines and a large-scale sell-off on Friday, it is still declining. April has traditionally been a strong seasonal month for cryptocurrencies, and as the market digests a range of macro risks and awaits clearer directions, the future may be determined by horizontal consolidation. This week's key events include ISM data, non farm payroll report, and Powell's speech.