QCP: Cryptocurrencies Remain Closely Linked to Stocks, Market Highly Focused on Recent Non-Farm Payrolls and CPI Data

Odaily Planet Daily News: QCP Capital stated in its official channel that after Trump announced the crypto reserves, the tariffs determined on Canada, Mexico, and China, along with the swift retaliatory measures taken by Canada and China, have all added fuel to the already uncertain crypto market. Bitcoin rose to $94,000 before plummeting to $83,000 and is currently stabilizing around $88,000 in volatile trading.
Meanwhile, the U.S. Secretary of Commerce hinted at a partial reduction in tariffs, which may be announced after Trump's State of the Union address. As the macro environment continues to change, cryptocurrencies remain closely linked to stocks, with their price movements reflecting broader economic changes.
This Friday marks a historic milestone—the first White House Crypto Summit. However, with no specific executive orders, funding commitments, or congressional support, the market remains in a wait-and-see state. Investors view this as a high-risk asymmetric event that could drive prices up or trigger massive sell-offs.
The market is now highly focused on the release of key economic data: this Friday's non-farm payroll report and next Wednesday's CPI data. This will play a crucial role in shaping market direction and the macro outlook.