On March 12, QCP Capital released market analysis today, pointing out that global trade tensions have escalated, market sentiment is under pressure, and a new round of tariffs may be implemented on April 2. The 25% steel and aluminum tariffs that take effect today have triggered countermeasures from the European Union. The European Union plans to implement 26 billion euro (22 billion pounds) tariffs from April. Increased market volatility: The VIX index surged to 28, then fell back to 26.6, and the Cboe VIX futures curve inverted, suggesting that the market may be near a bottom. Tonight's CPI data may determine market interest rate expectations. The current market expects the Federal Reserve to cut interest rates four times in 2024 from one, but the unexpected rise in CPI in January has raised doubts about the slowdown in inflation, and investors remain cautious. Crypto market trends: The SEC has postponed the approval of XRP, SOL, LTC, ADA, and DOGE ETFs until May, and will hold a crypto regulatory roundtable on March 21 to discuss crypto asset classifications and regulatory frameworks. The Bitcoin ETF saw a net outflow of $154 million, with GBTC selling 641 BTC (worth $56.45 million) in a single day, indicating that caution among institutional investors is heating up. The market will be watching closely to see if the CPI data confirms a slowdown in inflation, while the progress of ETF approvals and the outcome of regulatory meetings could also affect the short-term movement of the crypto market.