QCP: Focus on Friday's Personal Consumption Expenditure Data, Crypto Market May Be Poised for Another Policy Shift

Odaily Planet Daily News: QCP stated in an official channel that risk sentiment continues to fluctuate. Since late April, risk assets have steadily climbed, with the S&P 500 approaching the symbolic 6000-point mark amid declining volatility. President Trump suddenly reignited trade tensions by proposing a hefty 50% tariff on EU goods (up from the previous 20%). Given the high market levels, this timing has not gone unnoticed.
However, after Trump announced an extension of the tariff implementation deadline to July 9, the market successfully stabilized. European stocks and U.S. futures opened higher this morning, but this event clearly reminds us how quickly policy risks can reprice calm into chaos. The Bitcoin volatility spread from July to June exceeded 2 last week but has now compressed to below 1, indicating that the market may be preparing for another policy shift before the new deadline.
Inflation continues to shape the macroeconomic framework. Everyone is watching this Friday's personal consumption expenditure data, a key indicator for determining the Fed's next move. Although oil prices have retreated, the increasingly congested European ports are beginning to affect Asia and the U.S., 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 ongoing spot ETF inflows. BlackRock's IBIT has achieved net inflows for 30 consecutive days, strengthening the growing institutional foothold in the digital asset space.