Odaily News QCP posted on its official channel that today is exactly one month after the S&P500 hit a new all-time high. The latest decline, some of the largest macro hedge funds stopped losses in this month's market plunge. Millennium reported that losses on two teams alone reached $900 million, and Brevan Howard's main fund has fallen 5% year-to-date, prompting traders to face stricter risk limits. The upcoming April 2 deadline, when Trump is expected to launch a new round of retaliatory tariffs. This remains the biggest pressure on risky assets.
Tonight’s FOMC meeting will most likely keep rates unchanged. However, we will be watching closely for any dovish shift, especially in growth and inflation expectations. As the impact of tariffs will not be transmitted to the economy for several months, we expect the Fed to maintain a “wait and see” approach. The April 2 tariff decision, although well-announced, remains a key uncertainty.
Bitcoin has found some support around $80,000 as momentum and carry trades unwind, but this support looks fragile against the backdrop of broader macroeconomic weakness. However, in the short term, it is difficult to find major positive factors that can reverse this decline. Our focus remains on principal protection income strategies to protect capital reserves and hedge risks during extended down cycles.