According to BlockBeats, on May 13, QCP released a market observation stating that the US and China agreed to temporarily lower tariffs, resulting in a 3% surge in the US stock market and a nearly 3% drop in gold. The strengthening dollar and rising government bond yields have driven selling pressure on volatility across asset classes.
The VIX index has retreated to 18, with Bitcoin's front-end volatility compressed by more than 5 points. Bitcoin and Ethereum prices remain stable at around $103,000 and $2,400, respectively. Bitcoin's market share has fallen below 63%, while Ethereum performs excellently.
Bitcoin is caught between its identity as 'digital gold' and a risk asset, and shifts in the macro environment may affect the flow of funds in derivatives. Ethereum's price breaking above $2400 coincides with the Pectra upgrade, showing its potential as a major allocation asset.
