QCP Capital pointed out that after the US raised the total import tariffs on China to 104%, the market continued to decline, and safe haven assets such as gold and US Treasury bonds were also sold off. VIX remained above 40 for three consecutive days. The yield of US Treasury bonds has risen significantly, reaching 4.5% for the 10-year term and breaking through 5% for the 30-year term at one point. The Trump administration is currently more like "doubling down" rather than turning around, and the market is hoping for a "Trump bottom" or "Fed bottom", but it is difficult to deliver in the short term. Despite market speculation that there will be four interest rate cuts in 2025, the Federal Reserve is expected to maintain interest rates unchanged against the backdrop of stable unemployment rates and rising inflation. BTC closed at $75000 and ETH continued to weaken. https://www. (wublock123.com)/index.php? m=content&c=index&a=show&catid=6&id=40703