QCP Asia: Market sentiment is relatively cautious on the eve of the White House encryption summit

PANews reported on March 5th that, according to QCP Asia analysis, the crypto market experienced intense fluctuations this week, with BTC once reaching a high of 94K before falling back to 83K, and currently oscillating around 88K. The market is influenced by macro factors such as Trump’s reserve plan, the escalation of the US-Canada-China trade war, and tariff adjustments, closely following the fluctuations in the stock market. This Friday will see the first White House encryption summit, but lack of specific policy support, market sentiment is cautious, investors are concerned whether it will become a price catalyst or trigger a larger sell-off. In addition, the US bond high yield spread widened to 290bps, the Atlanta Fed’s GDP forecast turned negative to -2.8%, the market is focusing on Friday’s non-farm payroll data and next week’s CPI to assess the macroeconomic outlook.