BlockBeats News, April 14th: QCP released its daily market observation, stating that after a week of tariff brinkmanship, risk assets began to stabilize, overcoming barriers that could have severely impacted US-China trade. The US imposed tariffs as high as 145% on Chinese imports, to which China retaliated with 125% tariffs, escalating to a level where further escalation in the market was no longer surprising. The immense scale of these tariffs makes them more symbolic than market-driven factors, contrasting sharply with the panic triggered during the "Liberation Day" period.
After Friday's close, the Trump administration quietly exempted the latest tariffs on smartphones, computers, and chips. Despite the stalemate continuing, risk assets priced in optimistic sentiment, even as the US seemed to be not only negotiating with China but also playing a game with the bond market and itself.
In the crypto market, Bitcoin's risk reversal remains bearish until June, indicating some short-term caution in the market. However, long-term sentiment is becoming more positive. On Saturday, we observed aggressive buying of 800 contracts of BTC-27MAR26-100k-C. Bitcoin continues to range between $80,000 and $90,000, possibly continuing sideways as a "wait-and-see" strategy in response to the tariff situation.
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