QCP: War risks cool down, and the market turns to risk appetite mode

Odaily News QCP released today’s analysis saying, “Although Israel resumed limited airstrikes hours after the temporary ceasefire, financial markets were barely affected. Far from being in “risk-off mode”, the market has fully shifted to “risk appetite” - the Nasdaq 100 hit a record high and the S&P 500 is less than 1% away from its all-time closing high in February 2020. At the same time, oil prices have fully retreated to pre-conflict levels, further fueling the shift in market sentiment.
Among the S&P 500 stocks, Coinbase (COIN) surged 12% on Tuesday to close at $344.94, its highest level in more than six months. On the other hand, institutional interest in Bitcoin continues to heat up. The ProCap fund managed by Anthony Pompliano has attracted market attention and recently purchased $386 million worth of Bitcoin. This is its clear strategy to use Bitcoin as a "corporate fiscal reserve asset." Since the beginning of June, the number of companies that have included Bitcoin in their balance sheets has almost doubled, and more than 240 companies currently hold a total of 3.45 million BTC. If this trend continues, Bitcoin is expected to not only rival gold as a macro hedge tool, but may even compete in terms of total market value. In this environment where the three forces of macro, military and currency converge, traditional risk premiums are shifting from "hedging tools" to "market benchmark assumptions." The market's tolerance for geopolitical fluctuations is undergoing unprecedented tests. "