QCP： Tariffs intensify cryptocurrency market volatility, further stock market decline may lead to Bitcoin falling below $75000 support

According to BlockBeats, on April 9th, QCP released a daily market observation stating that the market continued to decline overnight after the United States imposed a new round of tariffs on China. Volatility remains high, with VIX staying above 40 for the third consecutive day. Even traditional safe haven assets have failed to play their due role. Hedged assets failed to provide effective hedging, and gold prices and US bonds were sold off because investors were eager to reduce risks and meet margin requirements. The Trump administration's strategy of refinancing US debt at a lower level shows signs of pressure, because the entire yield curve has soared. The 10-year US treasury bond bond yield reached a peak of 4.50%, while the 30-year yield once exceeded 5%. The credit spread continues to widen, reflecting a general deterioration in risk sentiment. President Trump has not turned around, but seems to be adopting the Martingale strategy, doubling down on retaliatory measures every time. The market now hopes for two possibilities: Trump's bailout measures or the Federal Reserve's bailout measures to provide support. But neither seems to be immediately achievable. Due to the stable unemployment rate and signs of inflation recovery, the Federal Reserve may maintain current interest rates for the foreseeable future. This contrasts with market pricing, which expects four interest rate cuts in 2025, including speculation about possible rate cuts during meetings. Bitcoin is consolidating around the $75000 level, but if the stock market falls sharply again, this level may collapse. Ethereum continues to perform poorly, falling towards $1400, the lowest level since early 2023. In the context of increased volatility, cryptocurrency return strategies are receiving renewed attention. The increase in implied volatility provides an attractive opportunity to earn profits through structured trading.