QCP: Focus on personal consumption expenditure data this Friday, the crypto market may be ready for another policy shift

News: QCP stated in its official channel that risk sentiment continues to fluctuate. Since late April, risk assets have been steadily rising, with the S&P 500 Index approaching the symbolically significant 6000 point mark amid decreasing volatility. President Trump suddenly reignited trade tensions by proposing a 50% tariff on EU goods (higher than the previous 20%). Considering the market's high level, this timing was not overlooked. However, after Trump announced an extension of tariff implementation to July 9, the market successfully stabilized. European stocks and US futures opened higher this morning, but this event clearly reminded people how quickly policy risks can reprice calm into chaos. Bitcoin's volatility spread from July to June exceeded 2 last week and has now compressed to below 1, indicating the market may be preparing for another policy shift before the new deadline. Inflation continues to frame the macroeconomic landscape. Everyone is watching Friday's personal consumption expenditure data, a key indicator for the Federal Reserve's next move. Although oil prices have fallen, increasingly congested European ports are beginning to spread to Asia and the United States, potentially driving up shipping costs and triggering new indirect inflationary pressures. Bitcoin fell to $106,000 over the weekend but quickly rebounded to $110,000, supported by continued spot ETF inflows. BlackRock's IBIT has now achieved net inflows for 30 consecutive days, strengthening institutions' growing foothold in digital assets.