Golden Finance reported that QCP Capital’s latest analysis pointed out that the global market is digesting the impact of the adjustment in the Fed’s interest rate cut expectations. The 10-year U.S. Treasury yield surged to 4.8%, the highest since late 2023, with markets expecting no rate cut until October at the earliest. Stock index futures opened down 1.5%, sending Bitcoin briefly below $90,000 before recovering above $95,000. QCP Capital expects that there may be upside risks in the upcoming PPI and CPI data. The market is adapting to the reality that the high interest rate environment continues, and some investors are even considering the possibility of raising interest rates. The Bitcoin options market showed cautious sentiment, with investors rolling put options below the $90,000 support level. Volatility and butterfly spreads remained high in recent months, and the VIX index remained at 18.68, indicating that market volatility may continue in January. The report also pointed out that Trump may sign an executive order on the first day of his inauguration to solve the "de-banking" issue and repeal the controversial cryptocurrency accounting policy, which may bring positive catalysts to the market.