While gold continues to set records amid new volleys in the trade war, Bitcoin is not behaving as a “safe haven asset,” according to a report by QCP Capital.
Asia Colour — 16 Apr 25
1/ The real negotiations begin now. After unleashing shock-and-awe tariffs, the U.S. is already shifting tone — offering exemptions and extending an olive branch to China. The message is clear: flex first, negotiate later.
— QCP (@QCPgroup) April 16, 2025
The notion of an “alternative capital preservation measure” is not being confirmed, with positioning remaining “defensive,” the specialists noted. Participants are still focused on hedging risks until more clarity emerges.
According to experts, the US dollar and American government bonds have also lost their protective properties.
The jump in yields on 10-year and 30-year issues to 4.6% and 5% respectively was explained by the unexpected reversal of US President Donald Trump in trade policy implementation.
Earlier, the head of state introduced a “tariff pause” for 90 days, and recently Washington “invited” Beijing to negotiations.
QCP Capital highlighted comments from Federal Reserve representative Christopher Waller about shifting focus to recession risks.
According to analysts, the decision to ease policy is becoming increasingly likely. Investors now expect 3.5 rate cuts in 2025.
Previously, QCP Capital expressed doubts about the Federal Reserve’s readiness to support the markets.