QCP: Tariffs increase volatility in the crypto market, and further declines in the stock market may cause Bitcoin to fall below the $75,000 support

Mars Finance News: On April 9, QCP's daily market observation stated that after the United States imposed a new round of tariffs on China, the market continued to decline overnight. Volatility remains high, with the VIX maintaining above 40 for the third consecutive day. Even traditional safe-haven assets failed to perform their expected role. Safe-haven assets did not provide effective hedging, with gold and US bonds experiencing sell-offs as investors urgently sought to reduce risk and meet margin call requirements. The Trump administration's strategy of refinancing US debt at lower levels shows signs of stress, with the entire yield curve surging. The 10-year US Treasury yield peaked at 4.50%, while the 30-year yield briefly exceeded 5%. Credit spreads continue to widen, reflecting a general deterioration in risk sentiment. President Trump has not changed course and appears to be employing a Martingale strategy, doubling down on each retaliatory move. The market now hopes for two possibilities: Trump's rescue measures or the Federal Reserve's rescue measures to provide support. However, both seem unlikely to materialize immediately. With unemployment rates remaining stable and inflation showing signs of recovery, the Federal Reserve may maintain current rates in the foreseeable future. This contrasts with market pricing, which expects four rate cuts by 2025, including speculation about potential inter-meeting rate cuts. Bitcoin is consolidating around the $75,000 level, but this level may collapse if the stock market experiences another significant decline. Ethereum continues to perform poorly, falling towards $1,400, its lowest level since early 2023. With increased volatility, crypto yield strategies are receiving renewed attention. Rising implied volatility offers an enticing opportunity to earn returns through structured trading.