ChainCatcher Message: QCP Capital issued a statement on the official channel stating that during the Asian trading session, as the US dollar sharply declined, Bitcoin, gold, and silver rose in sync. This volatility coincided with comments from Powell, who indicated that the Department of Justice issuing subpoenas to the Federal Reserve and potential criminal charges on Friday are seen as retaliation against the Fed’s refusal to cooperate with President Trump’s preferred interest rate policy path, rather than related to Powell’s Congressional testimony in June.
Although initial volatility may suggest that the market is attempting to re-position Bitcoin as a hedge against fiat currency systems or institutional risks, subsequent movements have been clearly weak. Bitcoin failed to sustain above $92,000 and sharply retreated after the European open, repeating patterns seen multiple times in Q4 last year. This failure to capitalize on the so-called bullish narrative highlights the structural resistance Bitcoin has faced since October 10, with market optimism for a breakout in Q1 waning. Looking ahead, recent volatility risks are expected to remain high. The market will stay sensitive to Tuesday’s US CPI data, and Wednesday’s Supreme Court tariff ruling could further impact cross-asset allocation and risk sentiment.
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