QCP Asia: Global safe haven sentiment heats up, Bitcoin's performance under pressure

QCP Asia released a market observation stating that in the past week, global risk appetite has cooled down, and volatility and geopolitical tensions in the Japanese market have intensified, pushing the market into a defensive state. The stock market has weakened, and interest rate and macro policy risks have become the focus. The repricing of Japanese treasury bond bond yield raises the financing cost and affects the global market through cross-border allocation and other channels. The risk of trade friction between the United States and Europe has emerged, and tariff related statements and potential countermeasures may exacerbate global trade tensions. QCP points out that Bitcoin's performance is closer to high beta macro assets, highly sensitive to changes in interest rates and cross asset volatility, and may not form a clear trend in the short term.