QCP Capital: Inflation concerns rise on the eve of Trump's inauguration, Bitcoin may be supported by favorable policies in the short term
ChainCatcher news, QCP Capital's latest analysis points out that with only one week left until Trump takes office as the 47th President of the United States, concerns about inflation continue in the market. The U.S. job market remains strong, with last week's non-farm payroll data exceeding expectations (256,000 vs. expected 165,000), and U.S. Treasury yields are rising, with the market only expecting two rate cuts in 2025-2026.From recent developments, the macroeconomic environment is not friendly to risk assets. However, one bright spot is that Trump's actual policies often differ significantly from his public statements. Concerns about inflation may not be as severe as the market expects. For cryptocurrencies, there are individuals in Trump's administration who support them. There are rumors that Trump will issue a broad and crypto-friendly executive order, which could provide support for short-term prices.Market volatility is expected to increase around the inauguration, as the market needs to digest and adapt to Trump's new term. QCP Capital remains cautious about downside risks, as the $90,000 level for Bitcoin has been tested multiple times. The stock market also appears fragile, and with rising global bond yields, it may trigger chaotic and gap-driven market movements.