QCP Capital: The global trade war is intensifying, and risk asset markets are extremely panicked

Odaily News QCP Capital said in a statement that as the global trade war intensifies, the market is in turmoil. Although the US stock market has been under heavy pressure last week, Bitcoin was largely unaffected over the weekend. However, this resilience did not last long. In the early Asian trading session, cryptocurrencies plummeted, with Bitcoin falling below $80,000 and plummeting to a low of $74,500. In the past 24 hours alone, more than $800 million was liquidated in Bitcoin and Ethereum. As the market continues to fall into correction territory, the implied volatility of Bitcoin and Ethereum on Friday soared to more than 85% and 130%, respectively, and the market sought to hedge downside risks. The fear index (VIX) soared to more than 60, indicating extreme panic in the risk asset market. With only two days left before the implementation of the tariff increase on April 9, the global economy is on the brink of a full-scale economic war.
It is worth noting that Trump's "all-out" effort seems to be triggering responses from all parties, with reports that more than 50 countries have taken the initiative to seek to start trade negotiations. However, as countries scramble for negotiating seats, market tensions are likely to continue. President Trump, who has no intention of backing down, said he "doesn't want the stock market to fall, but sometimes you have to take medicine to cure your illness." If no substantial progress is made by Wednesday, the test of US economic confidence and credibility may become a bitter pill for global markets and even Trump himself.