Odaily Planet Daily News: QCP announced on its official channel that Bitcoin (BTC), Ethereum (ETH), and the S&P 500 index have just achieved their worst quarterly performance in three years. Since last Friday, over $160 billion in cryptocurrency market value has been wiped out, and the market is still looking for a bullish trend.
The significant pullback last Friday was due to a large number of maturities at the end of the season, causing traders to sell heavily at the middle price, resulting in excess funds turning from flat to negative. At the time of deleveraging cryptocurrency, macroeconomic data has dealt us another blow: core inflation data is higher than expected, confirming the strengthening of inflation in February despite continued sluggish consumer spending. The market is now nervously turning towards the next potential catalyst, the direction of Trump's tariff policy on April 2nd.
The volatility index depicts a mixed picture, with the volatility index (VIX) still at a high of 22, reflecting the ongoing unease in the stock market. In contrast, the trading volume of cryptocurrencies has withstood the sell-off, and despite similar declines and Friday's large-scale sell-off, it continues to decline. Platform data shows that trading activity tends to be bullish on the opening of Asia. The buyer holds upper level risk exposure (execution rights ranging from $85000 to $90000) and sells downside risk (execution rights of $75000), which may be a bet on a bullish cryptocurrency outlook for the second quarter.
