BlockBeats reported on June 12 that QCP Capital published an article on its official channel, stating that the market welcomed the tentative progress in U.S.-China relations. Former President Trump announced a partial rollback of proposed tariff increases, and the agreement is in its final stages awaiting formal approval. However, optimism remains subdued. The U.S. Secretary of Commerce maintained a tough stance on technology exports, explicitly stating that the U.S. "will not provide China with the most advanced chips." This highlights the fragmentation trends in global supply chains, with markets increasingly factoring this into cross-border trade pricing dynamics.

Geopolitical tensions have flared up again as the nuclear negotiations reach an impasse, and the U.S. begins withdrawing diplomatic personnel from the Middle East. Reportedly, Washington received warnings from Israel about a potential strike on Iran's nuclear facilities, triggering a sharp reaction in the oil markets. Brent crude oil surged by 7%-9% intraday, while risk assets were sold off as investors shifted to defensive assets.

In addition, speculation about Bessent possibly replacing Jerome Powell as Federal Reserve Chair heated up but was quickly dismissed. Bessent publicly reaffirmed his commitment to serving at the Treasury Department until 2029. Meanwhile, after U.S. CPI data came in lower than expected, former President Trump renewed calls for the Federal Reserve to "cut rates by a full 100 basis points," citing unsustainable debt servicing costs.

In summary, QCP Capital believes that despite minor pullbacks, the macro environment remains conducive to further institutional participation in digital assets and capital allocation.