QCP: Cryptocurrency Market Expected to Have Further Upside Potential, Coinbase Inclusion in S&P 500 Index Could Be a New Catalyst for the Cryptocurrency Market

BlockBeats News, May 14th, QCP released its daily market observation stating that the US-Saudi trade boosted the market rebound. The US and Saudi Arabia signed a milestone $600 billion trade agreement, leading to tariff cancellations, triggering a new wave of risk appetite.

The US CPI came in below expectations, easing market concerns about inflation and boosting rate cut bets. However, the Fed remains cautious. The current market expectation for the first rate cut is in July, but we believe a more realistic timeframe may be in September. Two rate cuts are expected in 2025, with one month ago's expectation being four.

In this round of rebound, the crypto market outperformed the stock market, with the Bitcoin price approaching its all-time high. Ethereum is striving to catch up, with the ETH/BTC exchange rate currently at 0.025. We believe there is still room for further upside in digital assets, especially against the backdrop of Coinbase's official inclusion in the S&P 500 Index on May 19th. Historical experience shows that index inclusions usually bring about short-term catalytic effects as passive funds need to adjust their allocations to better align with the benchmark index.