ChainCatcher reports, QCP's daily market observation states that after a week of tariff edge policy, risk assets began to stabilize, escaping barriers that could have potentially dealt a severe blow to China-US trade. The United States imposed tariffs of up to 145% on Chinese imported goods, with China retaliating with 125% tariffs, escalating to a point where further market escalation is no longer surprising. The massive scale of these tariffs makes them more symbolic than market-driven factors, in stark contrast to the panic caused in the early "Liberation Day" period.
After Friday's closing, the Trump administration quietly exempted smartphones, computers, and chips from the latest tariffs. Despite the ongoing stalemate, risk assets are pricing in optimistic sentiment, even as the United States seems to be negotiating not only with China but also with the bond market and itself.
In the crypto market, BTC's risk reversal remains slightly bearish until June, indicating that the market remains cautious in the short term. However, long-term sentiment is becoming more positive. On Saturday, we observed an aggressive buy of 800 BTC-27MAR26-100k-C. Bitcoin continues to consolidate in the $80,000 to $90,000 range, potentially continuing to trade sideways, adopting a "wait and see" strategy regarding the tariff situation.
