QCP Capital： Bitcoin options trading volume shows cautious sentiment, but the market is still expected to welcome a catalyst

Singapore based cryptocurrency investment firm QCP Capital announced today that the global market has digested the re adjustment of the Federal Reserve's interest rate cut expectations. The yield of 10-year treasury bond soared to 4.8%, a new high since the end of 2023. The market is currently expecting no interest rate cut until October. Stock market futures opened down 1.5%, causing Bitcoin to fall below $90000 before steadily recovering to over $95000. What will happen next? Key PPI and CPI data are about to be released. We believe that potential upside surprises may arise as the market begins to adapt to the reality of a long-term high interest rate environment, with some even considering the possibility of interest rate hikes. The upward trend in yields may test the resilience of financial markets. In the cryptocurrency field, the cautious sentiment in BTC option flows is evident, with put options pushed below the critical $90000 support level. Short term volatility and option spreads remain high, while the VIX index remains at a high of 18.68, indicating that volatility may continue into January. However, the market is still expected to welcome a catalyst. There are reports that Trump may sign an executive order on his first day in office to address the issue of "de banking" and repeal a controversial cryptocurrency accounting policy, which could provide a boost to the market.