QCP said global markets opened under broad cross-asset pressure as investors cut risk exposure, with losses showing up across equity futures, gold and Bitcoin rather than a clear shift into traditional safe havens. In premarket trading, the Nasdaq 100 fell from 744.45 to 737.76, gold dropped from $4,260 to $4,147, and Bitcoin slipped from $84,500 to $82,800. The U.S. dollar index also moved lower.
According to QCP, the pattern points to broad deleveraging instead of classic defensive repositioning. The firm linked the move primarily to geopolitics after the United States rejected a ceasefire-related proposal involving the Strait of Hormuz over the weekend, reviving concerns about energy supply disruptions and pushing Brent crude sharply higher.
QCP also flagged a packed U.S. macro calendar this week. After the Federal Reserve’s recent rate hike, the PCE price index and the nonfarm payrolls report are seen as key releases, with markets highly sensitive to any data that could shift expectations for future monetary policy adjustments. In crypto, front-end implied volatility remained elevated in options markets, dealers were pricing downside protection, and spot Bitcoin ETF flows appeared hesitant during the wider liquidation.
Global markets opened under broad cross-asset pressure, with investors cutting risk exposure, according to QCP.
In premarket trading, the Nasdaq 100 fell from 744.45 to 737.76. Gold dropped from $4,260 to $4,147, Bitcoin slid from $84,500 to $82,800, and the U.S. dollar index also moved lower. QCP said the move looked like broad deleveraging rather than a classic rotation into safe-haven assets.
Geopolitics seen as the main driver
QCP said geopolitics was the primary catalyst. The United States rejected a ceasefire-related proposal involving the Strait of Hormuz over the weekend, reviving concerns over energy supply disruptions and driving a sharp rise in Brent crude.
U.S. data in focus this week
The firm also pointed to a heavy U.S. macro calendar this week. After the Federal Reserve’s recent rate hike, the PCE price index and the nonfarm payrolls report are the key releases, with markets staying highly sensitive to any data that could alter expectations for further monetary policy adjustments.
Crypto traders watch volatility and support levels
In crypto options, front-end implied volatility remained elevated, with dealers pricing in downside protection. Spot Bitcoin ETF flows also showed hesitation during the broader liquidation.
QCP said Bitcoin’s recent technical strength is now facing twin pressures from geopolitical uncertainty and macroeconomic event risk, leaving key support levels under close watch.
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