QCP Asia: Cryptocurrencies remain closely correlated with stocks, and the market is highly focused on the recent non-farm and CPI data

ChainCatcher news, according to QCP Asia analysis, the cryptocurrency market experienced significant volatility this week, with BTC rising to 94K before falling back to 83K, currently fluctuating around 88K. The market is influenced by macro factors such as Trump's reserve plan, the escalation of the US-Canada-China trade war, and tariff adjustments, closely following stock market fluctuations.

This Friday will see the first White House crypto summit, but lacking specific policy support, market sentiment is cautious, and investors are watching whether it will act as a price catalyst or trigger a larger sell-off.

In addition, the high-yield spread of US bonds has widened to 290bps, and the Atlanta Fed's GDP forecast has turned negative to -2.8%. The market is focused on Friday's non-farm payroll data and next week's CPI to assess the macroeconomic outlook.