Online reported that on February 5, QCP Capital issued an article on the official channel saying that traditional financial markets are still digesting U.S. economic developments and are concerned about the latest developments in the high-risk tariff war between the United States and China. U.S. stocks are weak, and the S & P 500 is struggling to hold the 6,000-point mark. Market volatility in the past week has caused significant shocks in the crypto market, with BTC briefly hitting $92,000 and ETH falling to $2,100. The United States has postponed tariff measures on Mexico and Canada, which has brought some relief to the crypto market, but the U.S. -China trade war remains the core risk, and the market expects the upcoming phone call between Trump and Xi Jinping to bring a signal of relief. In addition, David Sacks, the US "crypto czar", announced the establishment of a working group at a meeting yesterday to promote stablecoin legislation and evaluate the feasibility of establishing a strategic bitcoin reserve (SBR). Although the short-term impact is limited, it may benefit the crypto market in the long run. BTC's resilience above $90,000 is impressive, but QCP Asia remains cautious about the possible geopolitical impact caused by tensions between the United States and China. The market lacks a clear crypto catalyst in the short term and needs to guard against downside price risks, especially in the context of a large-scale liquidation this Monday.