QCP Capital: The global trade war is escalating, and the risk asset market is in extreme panic.

Odaily Planet Daily reported that QCP Capital stated that as the global trade war intensifies, the market is in turmoil. Although the U.S. stock market faced significant pressure last week, Bitcoin was largely unaffected over the weekend. However, this resilience did not last long. During the early Asian trading session, cryptocurrencies plummeted, with Bitcoin falling below $80,000 and sharply declining to a low of $74,500. In just the past 24 hours, liquidations of Bitcoin and Ethereum exceeded $800 million. As the market continues to be in a correction phase, the implied volatility of Bitcoin and Ethereum soared to over 85% and 130%, respectively, as the market sought to hedge against downside risks. The VIX panic index surged above 60, indicating extreme fear in the risk asset markets. With only two days left until the tariff measures are implemented on April 9, the global economy is on the brink of a full-scale economic war.

It is noteworthy that Trump's "full steam ahead" approach seems to be eliciting responses from various parties, with reports that more than 50 countries are actively seeking to initiate trade negotiations. However, as countries scramble for a seat at the negotiating table, market tensions are likely to persist. President Trump, showing no signs of backing down, stated that he "does not want the stock market to fall, but sometimes you have to take medicine for the illness." If substantial progress is not made before Wednesday, the test of confidence and credibility in the U.S. economy may become a bitter pill to swallow for both the global market and Trump himself.