QCP Capital: Bitcoin volatility now favors bearish options until April, reflecting lack of upside catalysts

Odaily reports that QCP Capital posted on its official channel that after the DeepSeek operation two weeks ago and the volatility driven by tariffs last week, this time, Trump announced a 25% tariff on steel and aluminum, briefly disrupting the market before Powell's testimony and the release of the Consumer Price Index (CPI) data. As Mexico and Canada are among the top three suppliers to the US, these tariffs raise questions about the temporary delay last week and may reignite trade tensions. Adding to the uncertainty are Trump's remarks about possibly imposing sanctions on Japan - a key US ally - following the White House's move to block Japan's acquisition of US steel. Commodity prices have largely remained unchanged, while Asian stocks have fallen, and Bitcoin briefly dipped to $95,000 before rebounding - indicating a sentiment-driven market move rather than a fundamental shift in risk appetite. Bitcoin's volatility is now skewed towards put options until April, reflecting a lack of upside catalysts. A feedback loop is emerging - President Trump is highly sensitive to market reactions, and his stance is facing increasing market skepticism, which may further encourage him and increase market volatility.