Odaily News QCP posted on its channel: "Trump has heightened tensions by announcing a 25% tariff on auto imports, scheduled to take effect April 3, along with long-expected retaliatory tariffs on the United States' largest trading partners. Any further retaliation from these targeted economies could inject new uncertainty into an already turbulent global trade environment. Predictably, Japanese and Korean stock markets fell across the board, with auto stocks being the hardest hit.
In the crypto market, sentiment remains subdued despite some notable catalysts. GameStop’s unexpected $1.3 billion proposed raise for Bitcoin allocations did not boost overall market sentiment. The only bright spot was the continued inflow of funds into the Bitcoin ETF, which totaled $944.9 million since its expiration on March 14. In contrast, the ETH ETF saw an outflow of $112.1 million in the same period. This phenomenon shows the divergence of institutional confidence in the market. On-chain developments provide a glimmer of hope for ETH.
Looking ahead to tomorrow’s options expiration, BTC options with a notional value of $12.2 billion will expire at the maximum pain point of $85,000. BTC has already begun to slide from Monday’s highs, with both BTC and ETH’s front-end volatility falling by 10 pips. Spot trading is flat and open interest continues to decline, indicating a lack of optimism in the market in the near term. PCE data will be released tomorrow, and we believe that upside in the short term remains limited as the market awaits Trump’s next move in this escalating trade war.”