QCP: Trump Administration Official's Crypto-Friendly Stance Could Help Drive Price Up

BlockBeats News, January 15th, QCP Capital's latest analysis pointed out that it is less than a week until the inauguration of the 47th President of the United States, Donald Trump. Trump is scheduled to be inaugurated on January 20th.

Inflation concerns continue to plague the U.S. market. The U.S. job market remains strong. With the rise in U.S. Treasury yields, the U.S. stock market experienced turbulence, with the S&P 500 index threatening to drop below 5800 points. Bitcoin subsequently fell, briefly dipping below $90,000.

Given the recent economic environment, the macroeconomic situation is not very favorable for risk assets. However, Trump's actual policies often differ significantly from his public statements. Inflation concerns may not be as severe as the market expects.

For cryptocurrency, officials in the Trump administration are more crypto-friendly. Rumors about Trump enacting a broad, crypto-friendly executive order have provided support for the short-term market, potentially helping to drive prices up.

It is expected that there will be high volatility in the market around Trump's inauguration, as the market needs to digest and adapt to Trump's new administration. We remain cautious on the downside as Bitcoin's $90,000 support level has been tested multiple times. The U.S. stock market also appears fragile, and with global bond yields rising, it may trigger more chaotic and erratic market movements.