QCP Capital: Favorable Macro Environment and Policy Shifts Boost Cryptocurrency Market

QCP Capital's latest report highlights a favorable macroeconomic environment for risky assets, including cryptocurrencies. The People's Bank of China has implemented a series of stimulus measures to boost the real estate and stock markets, including a 500 billion yuan swap tool for non-bank financial institutions, with positive effects already emerging.The report anticipates further easing from China, coupled with expectations of the Federal Reserve joining the global rate-cut cycle. This aligns with broader actions from major central banks (excluding the Bank of Japan), which are poised to inject additional liquidity into the market.The widening spread between the US 2-year and 10-year Treasury yields, currently at 21 basis points, reflects market optimism about economic growth. Additionally, US Vice President Kamala Harris expressed positive sentiments about artificial intelligence and digital assets, sparking interest in related currencies. The US Securities and Exchange Commission's (SEC) approval of options trading for BlackRock’s Bitcoin Spot ETF (IBIT) further signals growing recognition and demand for digital assets.