TechFlow news — On March 20, QCP Capital's latest analysis indicated that last night's Federal Reserve FOMC meeting provided the long-awaited upward catalyst for markets, driving Bitcoin to briefly surpass $85,000.
The key driver was the Fed's decision to begin tapering its Quantitative Tightening (QT) program starting in April. Markets interpreted this as an indirect signal of rate cuts, reinforcing expectations that the Fed could start easing monetary policy as early as June. At the time of writing, markets have already priced in three rate cuts in 2025, expected in June, September, and December.
In the options market, positioning has normalized, with skew shifting back toward call options—marking a sharp contrast to earlier this week when put options were favored. QCP Capital noted that a key test will come when U.S. markets open tonight: whether this rally can sustain, or whether investors will recognize that risks still remain.
