According to ME News, on July 27 (UTC+8), QCP Capital released its latest Market Colour report, noting that U.S. equities showed mixed performance last Friday: the S&P 500 rose 0.05% to 7,412, the Nasdaq fell 0.64% to 24,976, and the Dow Jones increased 0.46% to 51,947. Market focus remains centered on interest rate trajectories. The report highlighted that the U.S. 10-year Treasury yield retreated to approximately 4.67% on Friday, after previously climbing to its highest level since January 2025; weaker oil prices provided some support for yields. The U.S. Dollar Index (DXY) remained stable, hovering near 101.4. Markets are now turning their attention to the Federal Reserve’s FOMC rate decision, due for release this Wednesday. The consensus expects the federal funds target range to remain unchanged; however, investors will closely monitor the policy statement and remarks by Fed Chair Powell to gauge officials’ latest views on inflation and economic growth prospects. In the crypto market, QCP noted that despite macroeconomic pressures, digital assets outperformed traditional equities overall in July. So far this month, BTC and ETH have risen approximately 11.6% and 24.6% respectively, demonstrating market resilience. However, recent inflows into U.S. spot BTC and ETH ETFs have cooled off: on July 24, combined net outflows from U.S.-listed spot BTC and ETH ETFs totaled approximately $311 million, ending a seven-day streak of net inflows. QCP emphasized that ETF flows remain a key indicator of institutional participation and market sentiment. Additionally, market participants continue to monitor developments in U.S. digital asset regulation, with the proposed CLARITY Act remaining a focal point for the crypto industry. In options markets, recent data shows investors have increased demand for downside protection, reflecting a renewed preference for risk-off positioning following recent risk asset corrections. Short-term implied volatility for ETH remains higher than for BTC, and perpetual contract funding rates remain positive, indicating that overall market positioning is still net long—though investors are hedging against near-term macro uncertainty. (Source: ChainCatcher)
QCP: Crypto Assets Outperform U.S. Stocks in July Amid Fed Rate Focus
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Summary
Fed news dominated market sentiment in July, as QCP Capital’s Market Colour report noted that crypto assets outperformed U.S. stocks. On July 27, the S&P 500 rose 0.05% to 7,412, the Nasdaq fell 0.64% to 24,976, and the Dow climbed 0.46% to 51,947. The 10-year Treasury yield dipped to 4.67% after reaching a 2025 high, while the Dollar Index held near 101.4. BTC and ETH surged 11.6% and 24.6% in July, outperforming traditional markets. Altcoins to watch include those responding to macroeconomic shifts and the CLARITY Act. U.S. spot BTC and ETH ETFs recorded a $311 million net outflow on July 24, ending a seven-day inflow streak.
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