According to BlockBeats, on May 13, QCP released a market observation stating that the temporary reduction of tariffs between China and the United States led to a 3% jump in the U.S. stock market and a nearly 3% drop in gold. The strengthening of the dollar and rising treasury yields have driven selling pressure on volatility across asset classes.
The VIX index has fallen to 18, with Bitcoin front-end volatility compressing over 5 points. Bitcoin and Ethereum prices are stabilizing around $103,000 and $2,400, respectively. Bitcoin's market share has fallen below 63%, while Ethereum has performed exceptionally well.
Bitcoin is caught between its identity as 'digital gold' and a risk asset; changes in the macro environment may affect the flow of funds in derivatives. The Ethereum price breaking above $2400 aligns with the Pectra upgrade, indicating its potential as a primary allocation asset.
