QCP Capital： Bitcoin volatility currently leans towards put options, reflecting a lack of upward catalysts

Singapore based cryptocurrency investment firm QCP Capital announced today that it will continue to set the tone for the entire week on Monday, following DeepSeek's actions two weeks ago and the volatility caused by tariffs last week. This time, Trump announced a 25% tariff on steel and aluminum, briefly disrupting the market before the Powell hearing and the release of CPI data. Mexico and Canada, as one of the top three suppliers to the United States, have raised questions about last week's temporary extension of tariffs, which could reignite trade tensions. What adds to the uncertainty is that Trump's remarks about possible sanctions against Japan, a key ally of the United States, follow closely behind the White House's action to prevent Japanese steel from acquiring American steel companies. Commodities remained largely unchanged, Asian stock markets fell, and BTC briefly fell to $95000 before rebounding, indicating that this is an emotion driven volatility rather than a fundamental shift in risk appetite. Bitcoin volatility is currently trending towards put options until April, reflecting a lack of upward catalysts. A feedback loop is forming - President Trump, who is extremely sensitive to market reactions, is facing a market that is increasingly daring to challenge his bluff. This may prompt him to take more aggressive measures, adding another layer of volatility to the market.