QCP: The recent correction in the crypto market is relatively healthy, and the overall upward trend will not be affected

PANews reported on August 16th that the QCP report stated that the release of US PPI data essentially eliminated the possibility of a 50 basis point interest rate cut. Regarding the cryptocurrency sector, US Treasury Secretary Benson stated that he would not sell confiscated Bitcoin and stated that he would explore budget-neutral ways to acquire more Bitcoin to expand reserves. Bitcoin has stabilized around $119,000 after falling from a high of $124,000 to $117,000, with risk reversals clearly favoring bearish options. Despite pressure from macroeconomic factors, QCP believes that the upward trend in cryptocurrencies that began in April of this year remains intact, supported by payment integration, balance sheet allocations, speculative positions, and increasing enterprise adoption.