According to BlockBeats, on May 13, QCP released a market observation stating that the agreement between China and the United States to temporarily lower tariffs led to a 3% jump in the U.S. stock market and a nearly 3% drop in gold. The strengthening dollar and rising treasury yields are driving selling pressure on cross-asset volatility.
The VIX index has fallen to 18, with Bitcoin's front-end volatility compressing by more than 5 points. Bitcoin and Ethereum prices are stabilizing around $103,000 and $2,400, respectively. Bitcoin's market share has dropped below 63%, while Ethereum has performed well.
Bitcoin is caught between its identity as 'digital gold' and a risk asset, with changes in the macro environment potentially affecting derivative fund flows. The price of Ethereum breaking above $2400 coincides with the Pectra upgrade, showcasing its potential as a major asset allocation.
