QCP： The intensification of the global trade war has led to the spread of panic, and the market has entered a correction zone

According to BlockBeats, on April 7th, QCP Capital announced on its official channel that "the global trade war is intensifying and the market is volatile. Despite the heavy pressure on the US stock market last week, Bitcoin has basically survived this storm over the weekend. However, this resilience proves to be short-lived. At the beginning of the Asian trading session, cryptocurrencies plummeted, and Bitcoin quickly fell to $74500 after breaking through $80000. As the market continues to enter a correction zone, the implied volatility of both Bitcoin and Ethereum surged on Friday as the market is eager to cover its downside risks. The VIX index surged above 60, indicating extreme panic and anxiety in the risk asset market. With only two days left until the implementation of higher tariffs on April 9th, the global economy is on the brink of a full-scale economic war. However, as countries around the world compete for a place at the negotiating table, the market may still remain tense. Trump shows no signs of backing down, stating that he does not want the stock market to fall, "but sometimes you have to take medicine." With confidence and credibility in the US economy at stake, if substantial progress is not made by Wednesday, the next few days could become a bitter pill that both the global market and Trump himself cannot afford BlockBeats note: The correction interval refers to the range in which market prices have fallen by 10% or more from recent highs.