QCP： Bitcoin volatility now leans towards put options, Trump highly sensitive to market reactions

According to BlockBeats, on February 10th, QCP released a daily market observation stating that following the DeepSeek action two weeks ago and last week's fluctuations driven by tariffs. This time, Trump announced a 25% tariff on steel and aluminum, briefly disrupting the market before Powell's testimony and the release of consumer price index (CPI) data. Due to Mexico and Canada being one of the three major suppliers to the United States, these tariffs have raised doubts about last week's temporary delay and may reignite trade tensions. Adding to the uncertainty is Trump's remarks about possible sanctions against Japan - an important ally of the United States - following the White House's move to block Japanese steel from acquiring American steel. Commodity prices remained largely unchanged, while Asian stock markets fell and Bitcoin briefly fell to $95000 before rebounding - indicating that this is an emotion driven market volatility rather than a fundamental change in risk appetite. The volatility of Bitcoin is now biased towards put options until April, reflecting a lack of catalytic factors for upward movement. A feedback loop is emerging - President Trump is highly sensitive to market reactions and his stance is facing increasing market skepticism. This may further encourage him and increase market volatility.