On March 3, QCP released a daily analysis saying, "After a turbulent week, we have finally returned to the starting point of last Monday.
Over the weekend, Trump announced the establishment of the U.S. Crypto Strategic Reserve. Some believe this move has already been digested by the market, while others see it as the only strong catalyst to push cryptocurrency to new highs later this year. However, Trump chose to play this "lifesaving card" early, pulling BTC back above $90,000 during the low liquidity period on Sunday.
With the rebound of risk assets, have we re-entered a bullish rhythm? Not yet. Currently, BTC is still fluctuating near the lows of the monthly range, the volatility of the front-end cryptocurrency market is still relatively high, and the two major mainstream coins (BTC & ETH) are still showing Put Skew (bearish bias). Meanwhile, the VIX index (fear index) remains at a high level, reflecting the overall unease in the broader risk asset market, especially after the recent escalation of trade tariff conflicts by the U.S. government.
Just when we thought Trump's chips were exhausted, he may still be hiding more surprises.
