BlockBeats News, May 8th, QCP released its daily market observation, stating that as expected, last night's FOMC meeting did not bring many surprises. The Federal Reserve kept the federal funds rate unchanged and reiterated its consistent view: the U.S. economy is resilient, the labor market is tight, and the inflation rate remains slightly above the 2% target.

Although President Trump's proposed tariff plan has reignited trade tensions, bringing new uncertainty to the U.S. economic outlook, Federal Reserve Chairman Powell remained cautious and calm. He reiterated that the "cost of being patient is quite low," indicating that there is no urgency to cut interest rates. Importantly, Powell did not commit to the number of potential rate cuts for this year, but deferred this guidance to the June FOMC meeting.

However, the market did not wait. The current pricing reflects expectations of three 25-basis-point rate cuts in July, September, and December. President Trump this morning triggered a wave of risk appetite by teasing a significant trade deal, with market speculation pointing to the UK as a potential trading partner. While the announcement lacked details, the prospect alone was enough to cause price fluctuations across various assets.

Cryptocurrency assets responded swiftly. Bitcoin rose by 2.74%, decisively reclaiming the psychological level of $99,000. Meanwhile, Ethereum surged by 6.89% during the Asian session, breaking out of the consolidation range between $1,700 and $1,900 seen over the past three weeks. In options trading desks, a noticeable increase in demand for call options was observed, especially for options expiring in May and June. This flow of funds indicates that traders are becoming more optimistic about further upside as the macro environment improves.

As we enter the U.S. market opening tonight, all eyes will be on whether this rebound can sustain or if there will be the typical "buy the rumor, sell the news" pullback risk once a trading partner is formally confirmed. Currently, we maintain a tactically cautious approach. Until Bitcoin's daily closing price surpasses $100,000, we believe chasing the momentum at the current levels offers limited upside.