On April 9th, COINOTAG reported that QCP’s daily market analysis indicated a continued **decline** in the crypto market, directly influenced by the **United States** imposing new **tariffs** on **China**. Market **volatility** remains elevated, with the VIX index maintaining levels above 40 for multiple consecutive days, highlighting investor uncertainty. Interestingly, even traditional **safe-haven assets** struggled to mitigate risks, as both **gold** and **US bonds** faced significant sell-offs due to margin calls.
The **Trump administration** displayed signs of economic pressure through a lower-level refinancing strategy, causing a notable surge across the entire **yield curve**. The yield on the **10-year US Treasury bond** peaked at 4.50%, while the **30-year yield** briefly surpassed 5%, indicating a growing risk aversion among investors. This situation also led to widening **credit spreads**, further reflecting the deteriorating **risk sentiment** in the market.
The financial markets are currently hinging on potential support measures from either the **Trump administration** or the **Federal Reserve**. However, immediate action from either party seems improbable, particularly given the stable **unemployment rate** and signs indicating a rebound in **inflation**. Consequently, the Fed is likely to maintain current **interest rates**, which conflicts with market expectations of four potential **rate cuts** in 2025, including anticipated intermeeting cuts.
In crypto terms, **Bitcoin** has traded sideways around the **$75,000** mark. However, should the stock market experience a further downturn, this support level may be tested. **Ethereum** continued to underperform, dropping to around **$1,400**, marking its lowest value since early 2023. As volatility surges, crypto yield strategies are regaining attention, leveraging rising **implied volatility** to create structured trading opportunities for investors seeking returns.