QCP Capital: The macro environment is favorable for cryptocurrencies, with China's easing policies and expectations of Federal Reserve rate cuts boosting the market

ChainCatcher news, QCP Capital's latest report indicates that the current macro environment is becoming increasingly favorable for risk assets, including cryptocurrencies. The People's Bank of China has introduced a series of policies to stimulate the real estate and stock markets, including a 500 billion yuan swap tool aimed at non-bank financial institutions, and these measures have already shown initial results. QCP Capital expects China to further relax policies, coupled with the possibility of the Federal Reserve joining the global rate-cutting cycle, as major central banks (excluding the Bank of Japan) are preparing to inject more liquidity into the market. The yield spread between the 2-year and 10-year U.S. Treasury bonds continues to widen, currently reaching 21 basis points, indicating that the market holds an optimistic outlook on economic growth.

In addition, U.S. Vice President Kamala Harris has expressed positive views on artificial intelligence and digital assets, triggering a rise in related cryptocurrencies. The U.S. Securities and Exchange Commission (SEC) has approved options trading for BlackRock's Bitcoin spot ETF (IBIT), demonstrating that digital assets are gaining increasing recognition and demand as an asset class.